Seacoast Banking Co. of Florida (NASDAQ:SBCF) Earns “Outperform” Rating from Raymond James

Seacoast Banking Co. of Florida (NASDAQ:SBCF)‘s stock had its “outperform” rating reaffirmed by research analysts at Raymond James in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $31.00 target price on the financial services provider’s stock, up from their previous target price of $29.00. Raymond James’ price target would indicate a potential upside of 10.07% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Stephens lifted their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Truist Financial decreased their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.40.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF stock traded down $0.23 during trading hours on Wednesday, reaching $28.17. The company had a trading volume of 72,637 shares, compared to its average volume of 355,482. The firm has a market cap of $2.41 billion, a PE ratio of 20.41 and a beta of 1.09. The business has a fifty day moving average price of $28.11 and a 200-day moving average price of $27.44. Seacoast Banking Co. of Florida has a one year low of $21.90 and a one year high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. Sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.39 earnings per share for the current fiscal year.

Insider Activity at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at $3,832,403.52. This represents a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Seacoast Banking Co. of Florida by 73.4% in the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 412 shares during the period. KBC Group NV increased its position in shares of Seacoast Banking Co. of Florida by 30.0% during the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 768 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Seacoast Banking Co. of Florida during the third quarter valued at approximately $121,000. FMR LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 57.3% in the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,960 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Seacoast Banking Co. of Florida in the third quarter worth approximately $178,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.