Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Has Consensus Target Price of $36.50

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.50.

A number of research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods increased their target price on shares of Seacoast Banking Corporation of Florida from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Raymond James Financial restated an “outperform” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, October 29th. Finally, Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday.

Seacoast Banking Corporation of Florida Trading Down 0.4%

Shares of NASDAQ SBCF opened at $33.58 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $3.24 billion, a P/E ratio of 14.47 and a beta of 0.88. Seacoast Banking Corporation of Florida has a 1-year low of $28.69 and a 1-year high of $36.27. The business has a fifty day moving average price of $33.14 and a 200 day moving average price of $32.51.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its earnings results on Tuesday, October 27th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $217.50 million for the quarter, compared to analyst estimates of $216.32 million. Seacoast Banking Corporation of Florida had a return on equity of 9.49% and a net margin of 16.27%. Equities research analysts expect that Seacoast Banking Corporation of Florida will post 2.53 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 15th. This represents a $0.80 annualized dividend and a dividend yield of 2.4%. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.19. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 44.71%.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In related news, EVP Juliette Kleffel sold 14,831 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $34.31, for a total transaction of $508,851.61. Following the transaction, the executive vice president directly owned 78,321 shares in the company, valued at $2,687,193.51. The trade was a 15.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis S. Hudson III sold 1,000 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $34.31, for a total value of $34,310.00. Following the transaction, the director directly owned 8,356 shares in the company, valued at $286,694.36. This represents a 10.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 27,831 shares of company stock valued at $952,962. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Institutional investors have recently added to or reduced their stakes in the business. Schrum Private Wealth Management LLC acquired a new position in Seacoast Banking Corporation of Florida during the 3rd quarter valued at approximately $380,000. First Trust Advisors LP raised its holdings in shares of Seacoast Banking Corporation of Florida by 22.8% in the third quarter. First Trust Advisors LP now owns 188,763 shares of the financial services provider’s stock worth $6,008,000 after buying an additional 35,018 shares during the last quarter. GW&K Investment Management LLC raised its holdings in shares of Seacoast Banking Corporation of Florida by 4.9% in the third quarter. GW&K Investment Management LLC now owns 1,511,089 shares of the financial services provider’s stock worth $48,098,000 after buying an additional 70,034 shares during the last quarter. Private Wealth Asset Management LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the third quarter worth $230,000. Finally, Voya Investment Management LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 8.6% during the third quarter. Voya Investment Management LLC now owns 33,674 shares of the financial services provider’s stock worth $1,072,000 after buying an additional 2,658 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is a bank holding company whose principal subsidiary, Seacoast National Bank, provides banking and related financial services. The company serves individuals, businesses and organizations, with offerings that include deposit accounts, consumer and commercial lending, mortgage services, cash management and wealth management. Founded in 1926, Seacoast has grown from its roots in Stuart, Florida, and serves communities across the state through branches and digital banking services.