B. Riley Analysts Give Seacoast Banking Co. of Florida (NASDAQ:SBCF) a $30.00 Price Target

B. Riley set a $30.00 target price on Seacoast Banking Co. of Florida (NASDAQ:SBCF) in a report issued on Thursday morning, Stock Target Advisor reports. The firm currently has a buy rating on the financial services provider’s stock. B. Riley also issued estimates for Seacoast Banking Co. of Florida’s Q4 2019 earnings at $0.51 EPS, Q2 2020 earnings at $0.52 EPS, Q3 2020 earnings at $0.55 EPS, Q4 2020 earnings at $0.55 EPS and FY2020 earnings at $2.10 EPS.

SBCF has been the subject of several other research reports. BidaskClub lowered shares of Xencor from a sell rating to a strong sell rating in a research note on Tuesday, June 11th. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. ValuEngine upgraded shares of Westpac Banking from a sell rating to a hold rating in a research note on Wednesday, May 22nd. Hovde Group upgraded shares of Seacoast Banking Co. of Florida from an underperform rating to a market perform rating in a research note on Tuesday, May 14th. Finally, Raymond James set a $29.00 price objective on shares of Seacoast Banking Co. of Florida and gave the company a buy rating in a research note on Friday, June 21st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $29.90.

NASDAQ:SBCF opened at $25.99 on Thursday. The company has a fifty day moving average of $24.47. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 15.38 and a beta of 0.92. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.08. Seacoast Banking Co. of Florida has a twelve month low of $21.74 and a twelve month high of $33.47.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $73.61 million during the quarter, compared to analyst estimates of $74.28 million. Seacoast Banking Co. of Florida had a net margin of 23.29% and a return on equity of 10.47%. During the same quarter in the previous year, the business posted $0.40 EPS. Equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.97 EPS for the current fiscal year.

In other Seacoast Banking Co. of Florida news, EVP Juliette Kleffel sold 4,433 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $24.13, for a total transaction of $106,968.29. Following the completion of the sale, the executive vice president now owns 4,730 shares in the company, valued at approximately $114,134.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. First Trust Advisors LP increased its position in shares of Seacoast Banking Co. of Florida by 4.8% during the first quarter. First Trust Advisors LP now owns 125,697 shares of the financial services provider’s stock valued at $3,312,000 after buying an additional 5,739 shares during the period. Marshall Wace LLP bought a new stake in shares of Seacoast Banking Co. of Florida during the first quarter valued at about $880,000. Jennison Associates LLC increased its position in shares of Seacoast Banking Co. of Florida by 6.2% during the first quarter. Jennison Associates LLC now owns 2,226,693 shares of the financial services provider’s stock valued at $58,673,000 after buying an additional 129,399 shares during the period. Hillcrest Asset Management LLC increased its position in shares of Seacoast Banking Co. of Florida by 36.0% during the first quarter. Hillcrest Asset Management LLC now owns 504,132 shares of the financial services provider’s stock valued at $13,284,000 after buying an additional 133,462 shares during the period. Finally, Chatham Capital Group Inc. increased its position in shares of Seacoast Banking Co. of Florida by 0.7% during the first quarter. Chatham Capital Group Inc. now owns 77,268 shares of the financial services provider’s stock valued at $2,036,000 after buying an additional 532 shares during the period. Institutional investors and hedge funds own 83.94% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. The company offers commercial and retail banking, wealth management, and treasury management services, as well as home mortgage products; and brokerage and annuity services.

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

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