Brokerages Set Seacoast Banking Co. of Florida (NASDAQ:SBCF) PT at $29.88

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have received a consensus recommendation of “Moderate Buy” from the four brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $29.88.

Several equities analysts have recently issued reports on the company. Truist Financial boosted their price objective on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $29.00 to $31.00 in a research note on Monday, July 29th.

Insider Activity

In other Seacoast Banking Co. of Florida news, Director Dennis S. Hudson III sold 16,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $27.00, for a total value of $432,000.00. Following the completion of the sale, the director now directly owns 234,312 shares of the company’s stock, valued at approximately $6,326,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted its position in shares of Seacoast Banking Co. of Florida by 63.8% in the 1st quarter. Sei Investments Co. now owns 205,996 shares of the financial services provider’s stock valued at $5,230,000 after purchasing an additional 80,220 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Seacoast Banking Co. of Florida in the first quarter worth approximately $1,325,000. William Blair Investment Management LLC raised its holdings in shares of Seacoast Banking Co. of Florida by 24.0% during the first quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock valued at $29,710,000 after acquiring an additional 226,132 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Seacoast Banking Co. of Florida by 23.9% in the 1st quarter. Russell Investments Group Ltd. now owns 465,273 shares of the financial services provider’s stock valued at $11,813,000 after acquiring an additional 89,744 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Seacoast Banking Co. of Florida by 10.2% in the 4th quarter. Schroder Investment Management Group now owns 551,327 shares of the financial services provider’s stock worth $15,691,000 after purchasing an additional 50,902 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Up 1.3 %

Shares of Seacoast Banking Co. of Florida stock opened at $26.65 on Thursday. Seacoast Banking Co. of Florida has a twelve month low of $19.04 and a twelve month high of $29.98. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 19.04 and a beta of 1.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $26.72 and its 200-day simple moving average is $24.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $201.99 million during the quarter, compared to analyst estimates of $126.00 million. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, September 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 51.43%.

About Seacoast Banking Co. of Florida

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.