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

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have received an average rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $29.40.

A number of research firms have weighed in on SBCF. Raymond James reiterated an “outperform” rating and issued a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Truist Financial dropped their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Stephens upped 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 report on Monday, October 28th.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several institutional investors and hedge funds have recently made changes to their positions in SBCF. Smartleaf Asset Management LLC boosted its position in Seacoast Banking Co. of Florida by 154.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $31,000 after buying an additional 679 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the 4th quarter worth about $34,000. Sterling Capital Management LLC lifted its position in shares of Seacoast Banking Co. of Florida by 811.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 2,370 shares during the period. Venturi Wealth Management LLC purchased a new position in Seacoast Banking Co. of Florida during the 4th quarter valued at about $76,000. Finally, KBC Group NV lifted its position in Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 768 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF opened at $28.17 on Friday. The stock has a market cap of $2.41 billion, a P/E ratio of 19.70 and a beta of 1.08. The business’s fifty day moving average is $27.77 and its 200 day moving average is $27.65. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68. 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 (NASDAQ:SBCF) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS 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 anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Friday, March 14th. 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.