Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives $25.90 Consensus Price Target from Brokerages

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have received a consensus rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $26.10.

A number of equities research analysts have commented on the company. Truist Financial reduced their price target on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Raymond James upped their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Hovde Group lowered their price target on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Thursday.

Institutional Trading of Seacoast Banking Co. of Florida

Several large investors have recently modified their holdings of SBCF. Wellington Management Group LLP boosted its position in shares of Seacoast Banking Co. of Florida by 31.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock worth $100,966,000 after purchasing an additional 1,106,724 shares in the last quarter. Hsbc Holdings PLC bought a new position in Seacoast Banking Co. of Florida in the fourth quarter worth approximately $10,179,000. abrdn plc boosted its holdings in Seacoast Banking Co. of Florida by 40.7% in the third quarter. abrdn plc now owns 1,212,652 shares of the financial services provider’s stock worth $26,630,000 after acquiring an additional 350,726 shares in the last quarter. Franklin Resources Inc. grew its stake in Seacoast Banking Co. of Florida by 20.6% in the fourth quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock valued at $58,262,000 after acquiring an additional 349,147 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Seacoast Banking Co. of Florida by 11.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock valued at $84,814,000 after acquiring an additional 310,499 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

Shares of Seacoast Banking Co. of Florida stock opened at $24.12 on Monday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 17.23 and a beta of 1.17. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $29.98. The company’s fifty day moving average is $23.94 and its 200 day moving average is $24.53. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, June 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 51.43%.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.