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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) has been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $30.00.

Several equities analysts recently issued reports on SBCF shares. Stephens boosted their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Raymond James restated 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 note on Wednesday, January 29th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $4,866,000. Mackenzie Financial Corp acquired a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at $637,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Seacoast Banking Co. of Florida by 17.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 175,497 shares of the financial services provider’s stock valued at $4,831,000 after purchasing an additional 26,631 shares during the last quarter. ProShare Advisors LLC lifted its holdings in Seacoast Banking Co. of Florida by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 25,462 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 7,837 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Seacoast Banking Co. of Florida by 39.1% during the 4th quarter. Nuveen Asset Management LLC now owns 648,144 shares of the financial services provider’s stock worth $17,843,000 after purchasing an additional 182,350 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF opened at $26.20 on Thursday. The firm has a market capitalization of $2.24 billion, a P/E ratio of 18.32 and a beta of 1.09. The stock has a 50-day simple moving average of $27.55 and a two-hundred day simple moving average of $27.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities 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 business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.75%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

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.