Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF – Get Free Report) have received an average rating of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $36.50.
Several research analysts have recently issued reports on the stock. Raymond James Financial decreased their price objective on shares of Seacoast Banking Corporation of Florida from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Friday, September 25th. Finally, Piper Sandler boosted their price objective on Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a research note on Thursday, July 30th.
Read Our Latest Analysis on Seacoast Banking Corporation of Florida
Insider Buying and Selling at Seacoast Banking Corporation of Florida
In other news, Director Dennis S. Hudson III sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $34.15, for a total value of $409,800.00. Following the completion of the sale, the director directly owned 206,869 shares of the company’s stock, valued at $7,064,576.35. This represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Juliette Kleffel sold 14,831 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $34.31, for a total transaction of $508,851.61. Following the sale, the executive vice president owned 78,321 shares of the company’s stock, valued at approximately $2,687,193.51. This represents a 15.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.50% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone National Bank & Trust Co acquired a new stake in shares of Seacoast Banking Corporation of Florida in the third quarter valued at about $32,000. Versant Capital Management Inc increased its position in Seacoast Banking Corporation of Florida by 26.7% in the 3rd quarter. Versant Capital Management Inc now owns 2,246 shares of the financial services provider’s stock worth $71,000 after buying an additional 474 shares during the period. Nykredit A S bought a new position in Seacoast Banking Corporation of Florida in the 2nd quarter worth approximately $30,000. Range Advisory LLC bought a new position in Seacoast Banking Corporation of Florida in the 2nd quarter worth approximately $285,000. Finally, Corient Private Wealth LP acquired a new position in shares of Seacoast Banking Corporation of Florida during the second quarter worth approximately $408,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.
Seacoast Banking Corporation of Florida Stock Performance
SBCF stock opened at $32.80 on Friday. The company has a market capitalization of $3.18 billion, a P/E ratio of 14.64 and a beta of 0.90. The company has a 50-day simple moving average of $33.54 and a 200 day simple moving average of $32.56. Seacoast Banking Corporation of Florida has a fifty-two week low of $28.69 and a fifty-two week high of $36.27. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.35.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF – Get Free Report) last released its earnings results on Tuesday, July 28th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 15.11% and a return on equity of 8.68%. The firm had revenue of $210.00 million for the quarter, compared to analysts’ expectations of $209.84 million. Sell-side analysts predict that Seacoast Banking Corporation of Florida will post 2.55 earnings per share for the current fiscal year.
Seacoast Banking Corporation of Florida Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.19 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 48.41%.
Seacoast Banking Corporation of Florida Company Profile
Seacoast Banking Corporation of Florida is a bank holding company headquartered in Stuart, Florida. It operates primarily through Seacoast National Bank, which provides banking and financial services to individuals, businesses and institutions across Florida.
The company offers checking and savings accounts, certificates of deposit, commercial and residential real estate loans, consumer lending, business financing, treasury management and other deposit services. Through affiliated operations, Seacoast also provides wealth management, investment advisory and mortgage-related services.
Seacoast National Bank traces its roots to 1926 and has expanded its presence throughout Florida, including the Treasure Coast, Central Florida and South Florida.
Further Reading
- Five stocks we like better than Seacoast Banking Corporation of Florida
- Aurora Rejects Curaleaf’s Higher Bid, But the Takeover Fight Isn’t Over
- Centrus Energy Is Building a Nuclear Fuel Powerhouse—Why Is Its Stock Struggling?
- Halliburton Gains Traction: Multiyear Upcycle Ahead
- Meta Platforms’ AI Comeback Faces an Earnings Test—And a $10 Billion Charge
Receive News & Ratings for Seacoast Banking Corporation of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Corporation of Florida and related companies with MarketBeat.com's FREE daily email newsletter.
