Brokerages Set Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Target Price at $31.90

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has earned an average rating of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $31.90.

SBCF has been the topic of several recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Zacks Research lowered Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods boosted their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, February 2nd.

Insider Activity

In other Seacoast Banking Corporation of Florida news, Director Dennis J. Arczynski sold 3,419 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $34.21, for a total value of $116,963.99. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at $34,210. This trade represents a 77.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jacqueline Lynette Bradley sold 2,279 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $33.54, for a total value of $76,437.66. Following the sale, the director directly owned 7,000 shares in the company, valued at $234,780. This represents a 24.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 9,117 shares of company stock valued at $310,434. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Hedge funds have recently bought and sold shares of the stock. DRW Securities LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the fourth quarter worth about $308,000. Elevation Point Wealth Partners LLC purchased a new position in Seacoast Banking Corporation of Florida in the fourth quarter worth approximately $1,167,000. New York State Common Retirement Fund lifted its stake in Seacoast Banking Corporation of Florida by 3.9% in the fourth quarter. New York State Common Retirement Fund now owns 266,480 shares of the financial services provider’s stock worth $8,373,000 after acquiring an additional 10,121 shares during the last quarter. Bank of Montreal Can grew its holdings in Seacoast Banking Corporation of Florida by 6.6% during the 4th quarter. Bank of Montreal Can now owns 9,296 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 574 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co purchased a new stake in shares of Seacoast Banking Corporation of Florida in the 4th quarter valued at approximately $1,074,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

Shares of Seacoast Banking Corporation of Florida stock opened at $33.35 on Friday. The firm has a market cap of $3.26 billion, a PE ratio of 20.84 and a beta of 0.93. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $35.55. The business’s fifty day simple moving average is $33.00 and its 200-day simple moving average is $31.26.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The company had revenue of $204.80 million during the quarter, compared to analysts’ expectations of $201.25 million. Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The firm’s quarterly revenue was up 53.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 earnings per share. Equities analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 47.50%.

Seacoast Banking Corporation of Florida Company Profile

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.