Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives Consensus Recommendation of “Hold” from Brokerages

Seacoast Banking Co. of Florida (NASDAQ:SBCF) has received an average rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $29.40.

Several brokerages recently commented on SBCF. Truist Financial reduced their price objective on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Stephens lifted their price target on shares of 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. Raymond James restated an “outperform” rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday. Finally, StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ SBCF traded down $0.14 during mid-day trading on Wednesday, hitting $28.25. 466,146 shares of the company were exchanged, compared to its average volume of 378,275. The stock has a 50 day simple moving average of $28.09 and a 200-day simple moving average of $27.45. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 20.47 and a beta of 1.09.

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

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.55%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 52.17%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the sale, the chief executive officer now owns 126,232 shares in the company, valued at $3,832,403.52. The trade was a 14.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in Seacoast Banking Co. of Florida by 0.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 51,132 shares of the financial services provider’s stock worth $1,363,000 after acquiring an additional 383 shares during the period. GAMMA Investing LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 73.4% in the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 412 shares during the period. Trust Point Inc. grew its holdings in Seacoast Banking Co. of Florida by 2.8% during the 3rd quarter. Trust Point Inc. now owns 22,903 shares of the financial services provider’s stock valued at $610,000 after purchasing an additional 617 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Seacoast Banking Co. of Florida by 1.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 49,698 shares of the financial services provider’s stock worth $1,324,000 after buying an additional 659 shares during the period. Finally, KBC Group NV lifted its holdings in Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after buying an additional 768 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

About Seacoast Banking Co. of Florida

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.