Seacoast Banking Co. of Florida (NASDAQ:SBCF) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) from a hold rating to a sell rating in a report issued on Tuesday morning.

Several other brokerages also recently issued reports on SBCF. Raymond James restated an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Stephens dropped their price target on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their target price on Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.40.

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF opened at $24.91 on Tuesday. The stock has a market capitalization of $2.13 billion, a PE ratio of 17.42 and a beta of 0.89. Seacoast Banking Co. of Florida has a 1-year low of $21.36 and a 1-year high of $31.68. The firm has a fifty day simple moving average of $24.52 and a 200 day simple moving average of $26.99. The company has a current ratio of 0.85, a quick 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 data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The firm had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.41 million. The business’s revenue was up 12.0% on a year-over-year basis. On average, research analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.89%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 48.32%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SBCF. Orca Wealth Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida during the 1st quarter valued at approximately $445,000. Mackenzie Financial Corp boosted its position in Seacoast Banking Co. of Florida by 4.4% in the first quarter. Mackenzie Financial Corp now owns 24,159 shares of the financial services provider’s stock valued at $622,000 after buying an additional 1,015 shares in the last quarter. Royce & Associates LP grew its stake in shares of Seacoast Banking Co. of Florida by 5.4% during the first quarter. Royce & Associates LP now owns 1,135,997 shares of the financial services provider’s stock worth $29,229,000 after buying an additional 58,601 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Seacoast Banking Co. of Florida by 343.9% during the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock worth $33,000 after buying an additional 994 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of Seacoast Banking Co. of Florida by 3.2% during the first quarter. Segall Bryant & Hamill LLC now owns 1,916,743 shares of the financial services provider’s stock worth $49,318,000 after buying an additional 58,560 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

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.