Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives Average Rating of “Hold” from Analysts

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been assigned an average rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $29.40.

SBCF has been the subject of a number of recent analyst reports. Raymond James reiterated an “outperform” rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of hedge funds and other institutional investors have recently made changes to their positions in SBCF. JPMorgan Chase & Co. raised its stake in shares of Seacoast Banking Co. of Florida by 182.3% during the 4th quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider’s stock worth $18,730,000 after purchasing an additional 439,346 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Seacoast Banking Co. of Florida by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock worth $111,144,000 after purchasing an additional 305,843 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter worth about $6,850,000. Tributary Capital Management LLC raised its stake in shares of Seacoast Banking Co. of Florida by 44.4% during the 4th quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock worth $18,028,000 after purchasing an additional 201,494 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Seacoast Banking Co. of Florida by 94.5% during the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider’s stock worth $11,163,000 after purchasing an additional 197,067 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Trading Up 1.3 %

NASDAQ:SBCF opened at $28.28 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 19.78 and a beta of 1.08. The stock has a fifty day simple moving average of $27.80 and a 200 day simple moving average of $27.72.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released 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%. Sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given 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 yield of 2.55%. Seacoast Banking Co. of Florida’s 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.