Seacoast Banking Corporation of Florida (NASDAQ:SBCF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Seacoast Banking Corp of Florida is a bank holding company. Seacoast and its subsidiaries offer a full array of deposit accounts and retail banking services, engages in consumer and commercial lending and provides a wide variety of trust and asset management services, as well as securities and annuity products. “

Several other research firms have also recently weighed in on SBCF. Hovde Group upgraded shares of Seacoast Banking Corporation of Florida from a “market perform” rating to an “outperform” rating and cut their price target for the company from $30.00 to $29.00 in a report on Wednesday, February 7th. BidaskClub upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Saturday. Guggenheim reiterated a “hold” rating and issued a $28.00 price target on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, January 31st. B. Riley reiterated a “buy” rating and issued a $30.00 price target on shares of Seacoast Banking Corporation of Florida in a report on Friday, January 26th. Finally, Sandler O’Neill set a $27.00 price target on shares of Seacoast Banking Corporation of Florida and gave the company a “hold” rating in a report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $29.00.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at $24.66 on Wednesday. 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 has a fifty-two week low of $20.58 and a fifty-two week high of $27.50. The stock has a market cap of $1,151.36, a P/E ratio of 25.16 and a beta of 0.69.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 17.14% and a return on equity of 9.92%. The firm had revenue of $74.87 million for the quarter, compared to analysts’ expectations of $67.93 million. During the same quarter last year, the business earned $0.30 earnings per share. The business’s revenue was up 58.1% on a year-over-year basis. research analysts forecast that Seacoast Banking Corporation of Florida will post 1.77 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC boosted its holdings in Seacoast Banking Corporation of Florida by 1.3% in the second quarter. Teachers Advisors LLC now owns 85,014 shares of the financial services provider’s stock valued at $2,049,000 after acquiring an additional 1,079 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Seacoast Banking Corporation of Florida by 58.4% in the third quarter. BNP Paribas Arbitrage SA now owns 6,776 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 2,498 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in Seacoast Banking Corporation of Florida by 4.9% in the third quarter. Nationwide Fund Advisors now owns 56,538 shares of the financial services provider’s stock valued at $1,351,000 after acquiring an additional 2,658 shares in the last quarter. Swiss National Bank boosted its holdings in Seacoast Banking Corporation of Florida by 5.2% in the fourth quarter. Swiss National Bank now owns 62,200 shares of the financial services provider’s stock valued at $1,568,000 after acquiring an additional 3,100 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Seacoast Banking Corporation of Florida by 7.6% in the third quarter. California Public Employees Retirement System now owns 47,361 shares of the financial services provider’s stock valued at $1,131,000 after acquiring an additional 3,361 shares in the last quarter. Institutional investors and hedge funds own 74.79% 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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Analyst Recommendations for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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