Analysts Set Seacoast Banking Co. of Florida (NASDAQ:SBCF) Target Price at $26.10

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $26.10.

Several research firms have recently weighed in on SBCF. Hovde Group lowered their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Truist Financial lowered their price target on Seacoast Banking Co. of Florida from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Finally, Keefe, Bruyette & Woods upgraded Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $26.00 to $27.00 in a report on Friday, May 31st.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, EVP James C. Stallings III sold 3,855 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $24.44, for a total value of $94,216.20. Following the transaction, the executive vice president now owns 3,961 shares in the company, valued at $96,806.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Seacoast Banking Co. of Florida news, Director Dennis S. Hudson III sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total transaction of $432,000.00. Following the transaction, the director now owns 234,312 shares in the company, valued at approximately $6,326,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James C. Stallings III sold 3,855 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $24.44, for a total value of $94,216.20. Following the completion of the transaction, the executive vice president now owns 3,961 shares of the company’s stock, valued at approximately $96,806.84. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Seacoast Banking Co. of Florida by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock valued at $159,578,000 after purchasing an additional 254,887 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Seacoast Banking Co. of Florida by 31.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after purchasing an additional 1,106,724 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 15.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 3,121,900 shares of the financial services provider’s stock worth $79,265,000 after purchasing an additional 414,037 shares during the period. Dimensional Fund Advisors LP grew its position in Seacoast Banking Co. of Florida by 11.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock valued at $84,814,000 after buying an additional 310,499 shares during the period. Finally, Franklin Resources Inc. grew its position in Seacoast Banking Co. of Florida by 20.6% during the fourth quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock valued at $58,262,000 after buying an additional 349,147 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF opened at $27.50 on Friday. The company’s 50 day simple moving average is $23.71 and its two-hundred day simple moving average is $24.35. The stock has a market capitalization of $2.34 billion, a PE ratio of 19.64 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a 1 year low of $19.04 and a 1 year high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. The business had revenue of $125.58 million during the quarter, compared to analysts’ expectations of $127.95 million. Analysts predict that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.62%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 51.43%.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.