Seacoast Banking Corporation of Florida (SBCF) Given a $27.00 Price Target by Sandler O’Neill Analysts

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) received a $27.00 price objective from analysts at Sandler O’Neill in a research report issued to clients and investors on Thursday. The firm presently has a “hold” rating on the financial services provider’s stock. Sandler O’Neill’s price objective indicates a potential upside of 7.91% from the stock’s previous close.

SBCF has been the subject of a number of other reports. BidaskClub cut shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research cut shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. FBR & Co reissued a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research note on Friday, October 27th. Finally, Hovde Group set a $27.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the stock a “hold” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Seacoast Banking Corporation of Florida presently has an average rating of “Buy” and an average target price of $27.00.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at $25.02 on Thursday. Seacoast Banking Corporation of Florida has a 1-year low of $20.58 and a 1-year high of $27.13. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $1,080.84, a PE ratio of 25.53 and a beta of 0.77.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 18.48% and a return on equity of 9.37%. The company had revenue of $57.10 million during the quarter, compared to analysts’ expectations of $57.55 million. During the same period last year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.24 EPS for the current year.

In related news, CEO Dennis S. Hudson III sold 2,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $24.22, for a total transaction of $55,706.00. Following the sale, the chief executive officer now owns 19,247 shares in the company, valued at $466,162.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dennis S. Hudson III sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $24.39, for a total transaction of $195,120.00. Following the sale, the chief executive officer now owns 19,247 shares in the company, valued at approximately $469,434.33. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Seacoast Banking Corporation of Florida by 6.7% during the second quarter. Vanguard Group Inc. now owns 1,629,756 shares of the financial services provider’s stock worth $39,277,000 after acquiring an additional 101,925 shares during the last quarter. Jennison Associates LLC boosted its position in Seacoast Banking Corporation of Florida by 62.1% during the third quarter. Jennison Associates LLC now owns 1,601,955 shares of the financial services provider’s stock worth $38,271,000 after acquiring an additional 613,947 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Seacoast Banking Corporation of Florida by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,355,098 shares of the financial services provider’s stock worth $32,374,000 after acquiring an additional 33,161 shares during the last quarter. State Street Corp boosted its position in Seacoast Banking Corporation of Florida by 26.0% during the second quarter. State Street Corp now owns 1,212,356 shares of the financial services provider’s stock worth $29,218,000 after acquiring an additional 250,322 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in Seacoast Banking Corporation of Florida by 44.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,004,387 shares of the financial services provider’s stock worth $24,206,000 after acquiring an additional 308,644 shares during the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.

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About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

Analyst Recommendations for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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