Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Receives $35.50 Average Price Target from Analysts

Seacoast Banking Corporation of Florida (NASDAQ:SBCFGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $35.50.

SBCF has been the subject of a number of analyst reports. Piper Sandler upped 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. Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd.

Read Our Latest Stock Analysis on SBCF

Insider Activity at Seacoast Banking Corporation of Florida

In related news, Director Dennis Hudson, III sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $34.15, for a total transaction of $409,800.00. Following the completion of the transaction, the director owned 206,869 shares in the company, valued at $7,064,576.35. The trade was a 5.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $34.31, for a total transaction of $508,851.61. Following the sale, the executive vice president directly owned 78,321 shares of the company’s stock, valued at $2,687,193.51. The trade was a 15.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 30,831 shares of company stock valued at $1,054,652. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Seacoast Banking Corporation of Florida

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nykredit A S acquired a new stake in shares of Seacoast Banking Corporation of Florida in the 2nd quarter worth $30,000. Range Advisory LLC acquired a new position in Seacoast Banking Corporation of Florida during the 2nd quarter valued at about $285,000. Corient Private Wealth LP acquired a new position in Seacoast Banking Corporation of Florida during the 2nd quarter valued at about $408,000. Advus Financial Partners LLC purchased a new stake in Seacoast Banking Corporation of Florida in the second quarter valued at about $271,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Seacoast Banking Corporation of Florida in the second quarter worth about $216,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF stock opened at $32.42 on Monday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 20.65 and a beta of 0.84. Seacoast Banking Corporation of Florida has a 52-week low of $28.58 and a 52-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. The company’s 50 day moving average is $34.29 and its 200 day moving average is $32.26.

Seacoast Banking Corporation of Florida (NASDAQ:SBCFGet Free Report) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share for the quarter, topping 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 company had revenue of $210.00 million during the quarter, compared to analyst estimates of $209.84 million. On average, sell-side analysts anticipate that Seacoast Banking Corporation of Florida will post 2.55 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is 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 payout ratio is presently 48.41%.

Seacoast Banking Corporation of Florida Company Profile

(Get Free Report)

Seacoast Banking Corporation of Florida is the bank holding company for Seacoast National Bank, a community-focused financial institution headquartered in Stuart, Florida. Founded in 1926, the company serves consumers, businesses, and institutions through a network of banking offices and digital channels across Florida.

Seacoast National Bank provides a range of financial services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, and business financing.

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

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