Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCFGet Free Report) have earned an average rating of “Moderate Buy” from the five analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $35.50.

A number of analysts recently commented on SBCF shares. Piper Sandler boosted their price objective on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings upgraded shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd.

Check Out Our Latest Stock Analysis on Seacoast Banking Corporation of Florida

Insiders Place Their Bets

In other news, Director Dennis S. Hudson III sold 4,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $34.00, for a total transaction of $136,000.00. Following the completion of the transaction, the director owned 216,854 shares of the company’s stock, valued at $7,373,036. The trade was a 1.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of large investors have recently made changes to their positions in SBCF. Aster Capital Management DIFC Ltd purchased a new position in Seacoast Banking Corporation of Florida in the 4th quarter valued at about $26,000. Salomon & Ludwin LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 59.3% during the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after buying an additional 356 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Seacoast Banking Corporation of Florida during the third quarter worth approximately $33,000. Advisory Services Network LLC purchased a new stake in Seacoast Banking Corporation of Florida in the 3rd quarter worth approximately $45,000. Finally, Kestra Advisory Services LLC acquired a new position in Seacoast Banking Corporation of Florida in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Trading Down 1.4%

NASDAQ SBCF opened at $34.53 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $3.36 billion, a P/E ratio of 21.99 and a beta of 0.85. Seacoast Banking Corporation of Florida has a 52-week low of $27.22 and a 52-week high of $35.64. The firm has a 50-day moving average price of $32.51 and a 200 day moving average price of $32.02.

Seacoast Banking Corporation of Florida (NASDAQ:SBCFGet Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%.The firm had revenue of $209.99 million for the quarter, compared to the consensus estimate of $209.84 million. Equities research analysts expect that Seacoast Banking Corporation of Florida will post 2.55 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.76 annualized dividend and a yield of 2.2%. Seacoast Banking Corporation of Florida’s payout ratio is currently 48.41%.

Seacoast Banking Corporation of Florida Company Profile

(Get Free Report)

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.

See Also

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

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