Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have received an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.50.

Several research firms have recently weighed in on SBCF. Raymond James Financial set a $33.00 price objective on Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods increased their price objective on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Several institutional investors have recently bought and sold shares of SBCF. Westwood Holdings Group Inc. grew its stake in shares of Seacoast Banking Corporation of Florida by 27.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider’s stock worth $73,834,000 after acquiring an additional 622,709 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in Seacoast Banking Corporation of Florida by 7.2% in the third quarter. Deprince Race & Zollo Inc. now owns 2,148,243 shares of the financial services provider’s stock valued at $65,371,000 after purchasing an additional 143,871 shares in the last quarter. Geode Capital Management LLC grew its position in Seacoast Banking Corporation of Florida by 0.7% in the second quarter. Geode Capital Management LLC now owns 2,072,290 shares of the financial services provider’s stock valued at $57,244,000 after purchasing an additional 14,896 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in Seacoast Banking Corporation of Florida by 0.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 1,927,217 shares of the financial services provider’s stock valued at $53,230,000 after buying an additional 10,474 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its position in Seacoast Banking Corporation of Florida by 99.4% during the 3rd quarter. Tributary Capital Management LLC now owns 1,459,462 shares of the financial services provider’s stock worth $44,411,000 after buying an additional 727,428 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Trading Down 0.1%

Shares of NASDAQ SBCF opened at $30.56 on Friday. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $32.33. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 18.08 and a beta of 1.01. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average is $30.72 and its 200-day moving average is $28.24.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.93% and a return on equity of 7.16%. The business had revenue of $83.85 million during the quarter. Equities research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 44.97%.

About Seacoast Banking Corporation 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.