Equities analysts forecast that Seacoast Banking Corporation of Florida (NASDAQ:SBCF) will post $61.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Seacoast Banking Corporation of Florida’s earnings, with estimates ranging from $58.80 million to $63.50 million. Seacoast Banking Corporation of Florida posted sales of $47.35 million during the same quarter last year, which would indicate a positive year over year growth rate of 30.1%. The company is expected to report its next quarterly earnings report on Wednesday, February 7th.

According to Zacks, analysts expect that Seacoast Banking Corporation of Florida will report full year sales of $61.60 million for the current year, with estimates ranging from $218.80 million to $223.90 million. For the next fiscal year, analysts anticipate that the business will post sales of $271.82 million per share, with estimates ranging from $270.60 million to $272.80 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Seacoast Banking Corporation of Florida.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 18.48% and a return on equity of 9.37%. The business had revenue of $57.10 million for the quarter, compared to analysts’ expectations of $57.55 million. During the same quarter last year, the company earned $0.28 EPS. The business’s revenue was up 20.9% on a year-over-year basis.

A number of equities research analysts recently issued reports on the stock. BidaskClub raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, FBR & Co reissued a “buy” rating and issued a $27.00 price target on shares of Seacoast Banking Corporation of Florida in a research note on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.67.

Shares of Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at $25.51 on Wednesday. Seacoast Banking Corporation of Florida has a one year low of $18.76 and a one year high of $25.88. The stock has a market cap of $1,110.00, a price-to-earnings ratio of 20.87 and a beta of 0.77. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.77.

In other Seacoast Banking Corporation of Florida news, CEO Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $24.39, for a total transaction of $195,120.00. Following the sale, the chief executive officer now owns 19,247 shares of the company’s stock, valued at approximately $469,434.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dennis S. Hudson III sold 2,300 shares of Seacoast Banking Corporation of Florida stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $24.22, for a total transaction of $55,706.00. Following the sale, the chief executive officer now directly owns 19,247 shares in the company, valued at approximately $466,162.34. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SBCF. TIAA CREF Investment Management LLC raised its holdings in shares of Seacoast Banking Corporation of Florida by 5.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 135,984 shares of the financial services provider’s stock worth $3,277,000 after acquiring an additional 7,424 shares during the period. Westpac Banking Corp purchased a new position in shares of Seacoast Banking Corporation of Florida during the 2nd quarter worth $317,000. Dimensional Fund Advisors LP raised its holdings in shares of Seacoast Banking Corporation of Florida by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,321,937 shares of the financial services provider’s stock worth $31,859,000 after acquiring an additional 12,918 shares during the period. Nationwide Fund Advisors raised its holdings in shares of Seacoast Banking Corporation of Florida by 9.9% during the 2nd quarter. Nationwide Fund Advisors now owns 53,880 shares of the financial services provider’s stock worth $1,299,000 after acquiring an additional 4,850 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Seacoast Banking Corporation of Florida by 24.8% during the 2nd quarter. Northern Trust Corp now owns 452,458 shares of the financial services provider’s stock worth $10,904,000 after acquiring an additional 89,810 shares during the period. 76.72% of the stock is currently owned by institutional investors.

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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.

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Earnings History and Estimates for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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