Seacoast Banking Corporation of Florida (NASDAQ:SBCF)‘s stock had its “buy” rating restated by research analysts at FBR & Co in a research report issued on Tuesday. They currently have a $27.00 target price on the financial services provider’s stock. FBR & Co’s target price indicates a potential upside of 23.34% from the stock’s previous close.

SBCF has been the topic of several other research reports. Zacks Investment Research upgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, June 28th. BidaskClub cut Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Finally, FIG Partners upgraded Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a report on Friday, May 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $25.00.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at 21.89 on Tuesday. The firm has a market capitalization of $937.79 million, a PE ratio of 24.35 and a beta of 0.77. Seacoast Banking Corporation of Florida has a 52-week low of $15.85 and a 52-week high of $25.88. The stock’s 50 day moving average is $23.18 and its 200-day moving average is $23.62.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.29 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. Seacoast Banking Corporation of Florida had a return on equity of 9.20% and a net margin of 17.09%. The business had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $53.90 million. During the same quarter in the previous year, the business posted $0.24 EPS. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 25.2% on a year-over-year basis. Equities analysts expect that Seacoast Banking Corporation of Florida will post $1.23 earnings per share for the current year.

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In other Seacoast Banking Corporation of Florida news, Director Roger Goldman sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $24.11, for a total value of $53,042.00. Following the sale, the director now owns 20,072 shares in the company, valued at approximately $483,935.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thrivent Financial For Lutherans bought a new stake in Seacoast Banking Corporation of Florida in the 1st quarter valued at approximately $1,862,000. State of Wisconsin Investment Board bought a new stake in Seacoast Banking Corporation of Florida in the 1st quarter valued at approximately $599,000. Marshall Wace North America L.P. bought a new stake in Seacoast Banking Corporation of Florida in the 1st quarter valued at approximately $410,000. Janney Montgomery Scott LLC bought a new stake in Seacoast Banking Corporation of Florida in the 1st quarter valued at approximately $335,000. Finally, Wellington Management Group LLP bought a new stake in Seacoast Banking Corporation of Florida in the 1st quarter valued at approximately $37,908,000. Hedge funds and other institutional investors own 77.50% of the company’s stock.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

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

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