B. Riley Analysts Give Seacoast Banking Co. of Florida (NASDAQ:SBCF) a $30.00 Price Target

B. Riley set a $30.00 price objective on Seacoast Banking Co. of Florida (NASDAQ:SBCF) in a report issued on Thursday, Stock Target Advisor reports. The brokerage currently has a buy rating on the financial services provider’s stock. B. Riley also issued estimates for Seacoast Banking Co. of Florida’s Q4 2019 earnings at $0.51 EPS, Q2 2020 earnings at $0.52 EPS, Q3 2020 earnings at $0.55 EPS, Q4 2020 earnings at $0.55 EPS and FY2020 earnings at $2.10 EPS.

A number of other research firms have also commented on SBCF. Raymond James set a $29.00 price target on shares of Seacoast Banking Co. of Florida and gave the stock a buy rating in a research report on Friday, June 21st. BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Hovde Group raised shares of Seacoast Banking Co. of Florida from an underperform rating to a market perform rating in a report on Tuesday, May 14th. Finally, ValuEngine raised shares of Westpac Banking from a sell rating to a hold rating in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $29.90.

NASDAQ:SBCF opened at $25.99 on Thursday. Seacoast Banking Co. of Florida has a 52 week low of $21.74 and a 52 week high of $33.47. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 15.38 and a beta of 0.92. The business’s 50-day simple moving average is $24.47. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Seacoast Banking Co. of Florida had a net margin of 23.29% and a return on equity of 10.47%. The business had revenue of $73.61 million for the quarter, compared to analyst estimates of $74.28 million. During the same period last year, the firm earned $0.40 earnings per share. As a group, analysts anticipate that Seacoast Banking Co. of Florida will post 1.97 EPS for the current fiscal year.

In other Seacoast Banking Co. of Florida news, EVP Juliette Kleffel sold 4,433 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $24.13, for a total value of $106,968.29. Following the transaction, the executive vice president now directly owns 4,730 shares of the company’s stock, valued at approximately $114,134.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Pembroke Management LTD boosted its stake in shares of Seacoast Banking Co. of Florida by 24.9% in the 1st quarter. Pembroke Management LTD now owns 293,400 shares of the financial services provider’s stock valued at $7,731,000 after purchasing an additional 58,450 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in shares of Seacoast Banking Co. of Florida by 238.7% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 40,507 shares of the financial services provider’s stock valued at $1,068,000 after purchasing an additional 28,546 shares in the last quarter. Suntrust Banks Inc. boosted its stake in shares of Seacoast Banking Co. of Florida by 15.0% in the 4th quarter. Suntrust Banks Inc. now owns 20,608 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 2,683 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Seacoast Banking Co. of Florida by 16.5% in the 1st quarter. Bank of Montreal Can now owns 3,636 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 516 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Seacoast Banking Co. of Florida by 9.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,172,245 shares of the financial services provider’s stock valued at $30,502,000 after purchasing an additional 101,742 shares in the last quarter. 83.94% of the stock is currently owned by hedge funds and other institutional investors.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. The company offers commercial and retail banking, wealth management, and treasury management services, as well as home mortgage products; and brokerage and annuity services.

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Analyst Recommendations for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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