Brokerages Set Seacoast Banking Co. of Florida (NASDAQ:SBCF) Target Price at $30.00

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been given an average rating of “Hold” by the five brokerages that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $30.00.

A number of brokerages have recently weighed in on SBCF. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Stephens upped their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th.

Seacoast Banking Co. of Florida Price Performance

SBCF stock opened at $26.63 on Thursday. Seacoast Banking Co. of Florida has a one year low of $21.90 and a one year high of $31.68. The firm has a 50-day moving average of $27.57 and a two-hundred day moving average of $27.70. The firm has a market capitalization of $2.28 billion, a PE ratio of 18.62 and a beta of 1.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. On average, analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.70%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 50.35%.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of large investors have recently bought and sold shares of the business. State Street Corp raised its holdings in Seacoast Banking Co. of Florida by 0.7% during the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock valued at $112,978,000 after buying an additional 28,066 shares in the last quarter. North Reef Capital Management LP increased its holdings in shares of Seacoast Banking Co. of Florida by 3.7% during the 4th quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider’s stock valued at $116,452,000 after acquiring an additional 150,000 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Seacoast Banking Co. of Florida by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock valued at $111,144,000 after acquiring an additional 305,843 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Seacoast Banking Co. of Florida by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider’s stock worth $82,195,000 after purchasing an additional 16,214 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Seacoast Banking Co. of Florida by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock worth $53,959,000 after purchasing an additional 23,396 shares during the period. 81.77% of the stock is currently owned by institutional investors.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.