Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Gap Down – Time to Sell?

Seacoast Banking Co. of Florida (NASDAQ:SBCF)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $26.63, but opened at $25.80. Seacoast Banking Co. of Florida shares last traded at $26.48, with a volume of 35,378 shares traded.

Wall Street Analyst Weigh In

SBCF has been the subject of a number of research reports. Raymond James reiterated an “outperform” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Stephens increased their target price 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. of Florida Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 18.32 and a beta of 1.09. The company’s 50 day moving average is $27.55 and its 200 day moving average is $27.69.

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

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.75%. 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 institutional investors and hedge funds have recently bought and sold shares of SBCF. Smartleaf Asset Management LLC lifted its position in shares of Seacoast Banking Co. of Florida by 154.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 679 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at about $34,000. Sterling Capital Management LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 811.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 2,370 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth about $76,000. Finally, KBC Group NV raised its position in shares of Seacoast Banking Co. of Florida by 33.7% in the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock valued at $122,000 after buying an additional 1,121 shares during 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 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.