Seacoast Banking Co. of Florida (NASDAQ:SBCF) Sets New 12-Month Low – Time to Sell?

Seacoast Banking Co. of Florida (NASDAQ:SBCF) shares reached a new 52-week low on Thursday . The company traded as low as $20.00 and last traded at $24.27, with a volume of 204 shares changing hands. The stock had previously closed at $25.80.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SBCF shares. StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Raymond James reaffirmed an “outperform” rating and set a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Finally, Stephens upped their target price on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.00.

Seacoast Banking Co. of Florida Price Performance

The company’s 50-day moving average is $27.43 and its 200-day moving average is $27.66. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 16.73 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 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%. Equities research analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 50.35%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SBCF. Smartleaf Asset Management LLC increased its position in Seacoast Banking Co. of Florida by 154.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 679 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter worth $34,000. Sterling Capital Management LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 811.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 2,370 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at $76,000. Finally, KBC Group NV grew its position in Seacoast Banking Co. of Florida by 33.7% during the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 1,121 shares during the last quarter. 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.