Seacoast Banking Co. of Florida (NASDAQ:SBCF) PT Lowered to $25.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price target lowered by stock analysts at Truist Financial from $27.00 to $25.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective suggests a potential upside of 6.93% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Raymond James raised their price objective on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Hovde Group cut their price objective on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.90.

Seacoast Banking Co. of Florida Trading Down 1.1 %

Shares of NASDAQ:SBCF opened at $23.38 on Monday. The company has a market capitalization of $1.99 billion, a P/E ratio of 16.70 and a beta of 1.16. Seacoast Banking Co. of Florida has a 1 year low of $17.93 and a 1 year high of $29.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50 day simple moving average is $24.02 and its 200 day simple moving average is $24.43.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The business had revenue of $128.16 million during the quarter, compared to analyst estimates of $135.33 million. Seacoast Banking Co. of Florida had a net margin of 15.08% and a return on equity of 5.68%. On average, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SBCF. SG Americas Securities LLC bought a new position in Seacoast Banking Co. of Florida during the 3rd quarter worth $859,000. Raymond James Financial Services Advisors Inc. raised its position in Seacoast Banking Co. of Florida by 1.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 192,112 shares of the financial services provider’s stock worth $4,219,000 after purchasing an additional 3,579 shares during the last quarter. Brown Advisory Inc. raised its position in Seacoast Banking Co. of Florida by 5.9% during the 3rd quarter. Brown Advisory Inc. now owns 375,428 shares of the financial services provider’s stock worth $8,244,000 after purchasing an additional 20,971 shares during the last quarter. Advisor Partners II LLC raised its position in Seacoast Banking Co. of Florida by 29.7% during the 3rd quarter. Advisor Partners II LLC now owns 29,865 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 6,837 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in Seacoast Banking Co. of Florida by 39.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 520 shares during the last quarter. 81.77% of the stock is owned by institutional investors.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.