Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $24.67.

A number of equities analysts have weighed in on SBCF shares. BidaskClub lowered Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Zacks Investment Research lowered Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, FBR & Co restated a “buy” rating and issued a $27.00 target price on shares of Seacoast Banking Corporation of Florida in a research note on Tuesday, September 5th.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in SBCF. US Bancorp DE increased its stake in Seacoast Banking Corporation of Florida by 0.5% in the 2nd quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 20 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Seacoast Banking Corporation of Florida by 3,190.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 4,148 shares during the last quarter. Globeflex Capital L P bought a new position in Seacoast Banking Corporation of Florida in the 1st quarter worth about $116,000. Raymond James Financial Services Advisors Inc. bought a new position in Seacoast Banking Corporation of Florida in the 1st quarter worth about $200,000. Finally, SG Americas Securities LLC bought a new position in Seacoast Banking Corporation of Florida in the 1st quarter worth about $209,000. Institutional investors and hedge funds own 77.46% of the company’s stock.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) traded down 0.08% on Wednesday, reaching $24.32. The company’s stock had a trading volume of 55,460 shares. Seacoast Banking Corporation of Florida has a 52-week low of $16.09 and a 52-week high of $25.88. The stock’s 50 day moving average price is $22.79 and its 200 day moving average price is $23.49. The firm has a market cap of $1.04 billion, a PE ratio of 27.05 and a beta of 0.76.

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

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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