Analysts Set Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target at $28.50

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have earned an average rating of “Hold” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $28.50.

A number of equities analysts have commented on the stock. Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Truist Financial lifted their price target on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, July 29th.

Seacoast Banking Co. of Florida Trading Down 2.1 %

Seacoast Banking Co. of Florida stock opened at $26.46 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. Seacoast Banking Co. of Florida has a fifty-two week low of $19.04 and a fifty-two week high of $29.98. The stock has a market cap of $2.25 billion, a P/E ratio of 18.90 and a beta of 1.08. The firm’s fifty day moving average price is $26.21 and its 200-day moving average price is $24.56.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The firm had revenue of $201.99 million for the quarter, compared to analysts’ expectations of $126.00 million. During the same quarter last year, the firm posted $0.37 EPS. Equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.44 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, September 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 51.43%.

Insider Activity at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, Director Dennis S. Hudson III sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the completion of the sale, the director now owns 234,312 shares in the company, valued at $6,326,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

A number of hedge funds have recently modified their holdings of SBCF. GAMMA Investing LLC purchased a new position in Seacoast Banking Co. of Florida during the 4th quarter valued at about $25,000. Innealta Capital LLC purchased a new position in shares of Seacoast Banking Co. of Florida during the second quarter valued at approximately $55,000. Algert Global LLC bought a new position in shares of Seacoast Banking Co. of Florida during the second quarter valued at approximately $202,000. Janney Montgomery Scott LLC lifted its stake in Seacoast Banking Co. of Florida by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 460 shares during the period. Finally, Dakota Wealth Management boosted its holdings in Seacoast Banking Co. of Florida by 16.7% in the second quarter. Dakota Wealth Management now owns 10,515 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 1,507 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

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.