Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock Rating Lowered by StockNews.com

Seacoast Banking Co. of Florida (NASDAQ:SBCF) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

A number of other research firms also recently issued reports on SBCF. Stephens raised their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Raymond James reiterated an “outperform” rating and issued a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ SBCF traded down $2.22 during midday trading on Thursday, hitting $23.58. 787,823 shares of the stock traded hands, compared to its average volume of 414,998. The firm has a market capitalization of $2.02 billion, a P/E ratio of 16.49 and a beta of 1.09. Seacoast Banking Co. of Florida has a one year low of $21.90 and a one year high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a 50-day moving average of $27.37 and a two-hundred day moving average of $27.63.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share 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%. On average, equities analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its stake in shares of Seacoast Banking Co. of Florida by 3.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 380 shares in the last quarter. Mariner LLC increased its stake in Seacoast Banking Co. of Florida by 2.8% in the 4th quarter. Mariner LLC now owns 15,132 shares of the financial services provider’s stock worth $417,000 after buying an additional 407 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Seacoast Banking Co. of Florida by 6.0% during the fourth quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 478 shares during the period. Synovus Financial Corp lifted its position in shares of Seacoast Banking Co. of Florida by 1.6% in the fourth quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider’s stock valued at $915,000 after acquiring an additional 539 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,838 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 562 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.