Seacoast Banking Corporation of Florida (NASDAQ:SBCF) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other research analysts also recently weighed in on SBCF. Zacks Investment Research downgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Seacoast Banking Corporation of Florida has a consensus rating of “Hold” and an average price target of $26.00.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) traded down $0.06 during trading on Tuesday, hitting $25.46. 170,100 shares of the stock traded hands, compared to its average volume of 277,934. Seacoast Banking Corporation of Florida has a 52 week low of $20.58 and a 52 week high of $27.13. The firm has a market capitalization of $1,110.43, a price-to-earnings ratio of 21.27 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.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $57.10 million during the quarter, compared to the consensus estimate of $57.55 million. Seacoast Banking Corporation of Florida had a net margin of 18.48% and a return on equity of 9.37%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. sell-side analysts forecast that Seacoast Banking Corporation of Florida will post 1.24 earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of SBCF. US Bancorp DE lifted its position in shares of 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 buying an additional 20 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of 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 buying an additional 4,148 shares during the last quarter. Magnetar Financial LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the 3rd quarter worth about $203,000. SG Americas Securities LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the 3rd quarter worth about $211,000. Finally, Legal & General Group Plc lifted its position in shares of Seacoast Banking Corporation of Florida by 38.1% in the 2nd quarter. Legal & General Group Plc now owns 10,015 shares of the financial services provider’s stock worth $242,000 after buying an additional 2,761 shares during the last quarter. Hedge funds and other institutional investors own 79.81% of the company’s stock.

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Seacoast Banking Corporation of Florida Company Profile

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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