Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Receives $34.50 Average PT from Analysts

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has received an average rating of “Hold” from the five brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $34.50.

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Piper Sandler cut their target price on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Finally, Weiss Ratings lowered Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ:SBCF opened at $30.84 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33. Seacoast Banking Corporation of Florida has a 1 year low of $24.78 and a 1 year high of $35.55. The business has a fifty day simple moving average of $31.03 and a 200 day simple moving average of $31.77. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 20.29 and a beta of 0.86.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Seacoast Banking Corporation of Florida had a return on equity of 8.23% and a net margin of 14.42%.The business had revenue of $205.10 million during the quarter, compared to analyst estimates of $205.51 million. During the same period last year, the company earned $0.38 earnings per share. Seacoast Banking Corporation of Florida’s quarterly revenue was up 45.8% compared to the same quarter last year. As a group, sell-side analysts predict that Seacoast Banking Corporation of Florida will post 2.49 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, June 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 50.00%.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, EVP James C. Stallings III sold 7,552 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total transaction of $235,320.32. Following the transaction, the executive vice president directly owned 7,247 shares in the company, valued at $225,816.52. This trade represents a 51.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles M. Shaffer sold 10,367 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $30.88, for a total value of $320,132.96. Following the transaction, the chief executive officer owned 174,113 shares in the company, valued at approximately $5,376,609.44. This trade represents a 5.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,919 shares of company stock worth $806,733 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several institutional investors have recently bought and sold shares of SBCF. Jones Financial Companies Lllp increased its stake in shares of Seacoast Banking Corporation of Florida by 69.7% in the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 352 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Seacoast Banking Corporation of Florida in the fourth quarter worth about $26,000. Salomon & Ludwin LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 59.3% in the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 356 shares during the period. Measured Wealth Private Client Group LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the third quarter worth about $33,000. Finally, Advisory Services Network LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the third quarter worth about $45,000. 81.77% of the stock is currently owned by institutional investors.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.