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

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has received an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $29.40.

SBCF has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Stephens dropped their target price on shares of Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods increased their target price on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Hovde Group upped their price target on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a “market perform” rating in a research report on Wednesday, June 4th. Finally, Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research note on Thursday.

Institutional Trading of Seacoast Banking Corporation of Florida

Several hedge funds have recently made changes to their positions in SBCF. LPL Financial LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 33.7% in the 4th quarter. LPL Financial LLC now owns 17,086 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 4,304 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Seacoast Banking Corporation of Florida by 16.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 141,840 shares of the financial services provider’s stock worth $3,905,000 after acquiring an additional 19,578 shares during the period. Bank of Montreal Can lifted its stake in shares of Seacoast Banking Corporation of Florida by 12.2% in the 4th quarter. Bank of Montreal Can now owns 13,956 shares of the financial services provider’s stock worth $384,000 after acquiring an additional 1,523 shares during the period. Invesco Ltd. lifted its stake in shares of Seacoast Banking Corporation of Florida by 94.5% in the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider’s stock worth $11,163,000 after acquiring an additional 197,067 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Seacoast Banking Corporation of Florida in the 4th quarter worth $6,850,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Trading Up 6.2%

NASDAQ SBCF opened at $30.97 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s fifty day moving average price is $28.18 and its 200 day moving average price is $26.50. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 19.00 and a beta of 0.98. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $31.68.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $151.40 million for the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. During the same period last year, the firm posted $0.36 EPS. On average, sell-side analysts expect that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 44.17%.

Seacoast Banking Corporation 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.