Truist Financial Cuts Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target to $25.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price objective trimmed by Truist Financial from $27.00 to $25.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Several other equities analysts have also commented on the company. Hovde Group dropped their target price on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an outperform rating on the stock in a report on Monday. Raymond James increased their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an outperform rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida currently has an average rating of Hold and a consensus price target of $26.13.

Seacoast Banking Co. of Florida Stock Up 1.9 %

Seacoast Banking Co. of Florida stock opened at $23.51 on Monday. The firm has a market capitalization of $2.00 billion, a P/E ratio of 16.79 and a beta of 1.16. The stock’s fifty day simple moving average is $23.94 and its 200-day simple moving average is $24.46. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $29.98.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.72 annualized dividend and a yield of 3.06%. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 51.43%.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several large investors have recently bought and sold shares of SBCF. SG Americas Securities LLC acquired a new position in Seacoast Banking Co. of Florida in the third quarter valued at $859,000. Raymond James Financial Services Advisors Inc. boosted its stake in Seacoast Banking Co. of Florida by 1.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 192,112 shares of the financial services provider’s stock valued at $4,219,000 after acquiring an additional 3,579 shares in the last quarter. Brown Advisory Inc. boosted its stake in Seacoast Banking Co. of Florida by 5.9% in the third quarter. Brown Advisory Inc. now owns 375,428 shares of the financial services provider’s stock valued at $8,244,000 after acquiring an additional 20,971 shares in the last quarter. Advisor Partners II LLC boosted its stake in Seacoast Banking Co. of Florida by 29.7% in the third quarter. Advisor Partners II LLC now owns 29,865 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 6,837 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Seacoast Banking Co. of Florida by 39.8% in the third quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 520 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.