Brokerages Set Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target at $29.40

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have earned an average recommendation of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $29.40.

A number of analysts recently commented on the stock. Raymond James reissued an “outperform” rating and set a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report 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 report on Wednesday, January 29th. Truist Financial cut their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, Stephens lifted their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th.

Insider Activity

In other news, CEO Charles M. Shaffer sold 21,255 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares of the company’s stock, valued at $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

A number of institutional investors have recently modified their holdings of SBCF. Renaissance Technologies LLC raised its position in shares of Seacoast Banking Co. of Florida by 83.2% in the second quarter. Renaissance Technologies LLC now owns 78,605 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 35,700 shares during the last quarter. Sei Investments Co. increased its position in Seacoast Banking Co. of Florida by 36.7% during the second quarter. Sei Investments Co. now owns 281,601 shares of the financial services provider’s stock worth $6,657,000 after purchasing an additional 75,605 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Seacoast Banking Co. of Florida during the second quarter worth approximately $334,000. The Manufacturers Life Insurance Company increased its position in Seacoast Banking Co. of Florida by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 47,424 shares of the financial services provider’s stock worth $1,121,000 after purchasing an additional 1,317 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Seacoast Banking Co. of Florida during the second quarter worth approximately $202,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Up 2.8 %

SBCF stock opened at $28.57 on Wednesday. The company has a market cap of $2.44 billion, a P/E ratio of 19.98 and a beta of 1.08. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The company’s 50-day moving average price is $27.91 and its 200 day moving average price is $27.48. 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 released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates 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, research analysts expect that Seacoast Banking Co. of Florida will post 1.62 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 50.35%.

Seacoast Banking Co. of Florida Company Profile

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.