Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Given Consensus Rating of “Hold” by Analysts

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Four 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 analysts that have issued a report on the stock in the last year is $31.90.

Several equities research analysts have weighed in on SBCF shares. Zacks Research cut Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings raised Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 23rd. Finally, Keefe, Bruyette & Woods boosted their target price on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd.

Seacoast Banking Corporation of Florida Price Performance

SBCF stock opened at $30.47 on Monday. The firm’s 50-day moving average price is $31.91 and its two-hundred day moving average price is $31.63. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $35.55. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 19.04 and a beta of 0.91. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). The firm had revenue of $204.80 million for the quarter, compared to analysts’ expectations of $201.25 million. Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The business’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, equities analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, March 13th. Seacoast Banking Corporation of Florida’s payout ratio is presently 47.50%.

Insiders Place Their Bets

In related news, EVP Joseph M. Forlenza sold 12,635 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $32.90, for a total transaction of $415,691.50. Following the transaction, the executive vice president owned 42,392 shares in the company, valued at $1,394,696.80. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis S. Hudson III sold 8,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $31.34, for a total transaction of $250,720.00. Following the completion of the transaction, the director directly owned 236,854 shares of the company’s stock, valued at approximately $7,423,004.36. The trade was a 3.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,752 shares of company stock worth $976,846. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Seacoast Banking Corporation of Florida

Several large investors have recently bought and sold shares of SBCF. Vanguard Group Inc. raised its position in shares of Seacoast Banking Corporation of Florida by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock worth $222,732,000 after acquiring an additional 705,554 shares in the last quarter. North Reef Capital Management LP boosted its position in shares of Seacoast Banking Corporation of Florida by 16.8% during the fourth quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock valued at $183,244,000 after purchasing an additional 837,075 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Seacoast Banking Corporation of Florida by 58.6% during the third quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock valued at $166,825,000 after purchasing an additional 2,025,988 shares in the last quarter. State Street Corp grew its stake in Seacoast Banking Corporation of Florida by 1.4% in the fourth quarter. State Street Corp now owns 4,610,754 shares of the financial services provider’s stock worth $144,870,000 after purchasing an additional 64,986 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Seacoast Banking Corporation of Florida by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 3,098,370 shares of the financial services provider’s stock worth $94,284,000 after purchasing an additional 95,529 shares in the last quarter. 81.77% of the stock is owned by institutional investors.

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.