Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Has Consensus Target Price of $36.50 According to Analysts

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have received an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $36.50.

Several analysts have recently weighed in on SBCF shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Friday, September 25th. Raymond James Financial dropped their price target on Seacoast Banking Corporation of Florida from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 13th. Finally, Piper Sandler raised their price target on Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a research note on Thursday, July 30th.

Insider Activity at Seacoast Banking Corporation of Florida

In other news, EVP Juliette Kleffel sold 14,831 shares of Seacoast Banking Corporation of Florida stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $34.31, for a total value of $508,851.61. Following the transaction, the executive vice president directly owned 78,321 shares of the company’s stock, valued at $2,687,193.51. The trade was a 15.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dennis S. Hudson III sold 12,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $34.15, for a total transaction of $409,800.00. Following the completion of the transaction, the director directly owned 206,869 shares in the company, valued at $7,064,576.35. The trade was a 5.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in Seacoast Banking Corporation of Florida in the second quarter valued at $23,407,000. Emerald Advisers LLC raised its holdings in shares of Seacoast Banking Corporation of Florida by 163.2% in the first quarter. Emerald Advisers LLC now owns 504,363 shares of the financial services provider’s stock valued at $15,277,000 after buying an additional 312,712 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Seacoast Banking Corporation of Florida by 97.4% in the first quarter. Bank of America Corp DE now owns 464,064 shares of the financial services provider’s stock valued at $14,056,000 after buying an additional 228,935 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Seacoast Banking Corporation of Florida by 138.7% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 326,516 shares of the financial services provider’s stock worth $9,890,000 after buying an additional 189,714 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Seacoast Banking Corporation of Florida by 88.4% during the first quarter. Sei Investments Co. now owns 363,154 shares of the financial services provider’s stock worth $11,000,000 after buying an additional 170,421 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

Shares of SBCF opened at $32.54 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.78 and a quick ratio of 0.78. Seacoast Banking Corporation of Florida has a 1-year low of $28.62 and a 1-year high of $36.27. The stock has a market cap of $3.15 billion, a PE ratio of 20.73 and a beta of 0.90. The firm has a fifty day moving average price of $33.64 and a 200 day moving average price of $32.53.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%. The company had revenue of $210.00 million for the quarter, compared to analyst estimates of $209.84 million. As a group, sell-side analysts anticipate that Seacoast Banking Corporation of Florida will post 2.55 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 48.41%.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is the bank holding company for Seacoast National Bank, a community-focused financial institution headquartered in Stuart, Florida. Through its banking subsidiary, the company provides financial products and services to consumers, businesses, and public-sector organizations across Florida.

Seacoast National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury management, online and mobile banking, and other traditional banking services.