Seacoast Banking Co. of Florida’s (SBCF) Outperform Rating Reaffirmed at Raymond James

Seacoast Banking Co. of Florida (NASDAQ:SBCF)‘s stock had its “outperform” rating reiterated by research analysts at Raymond James in a report released on Wednesday,Benzinga reports. They currently have a $31.00 price objective on the financial services provider’s stock, up from their prior price objective of $29.00. Raymond James’ price objective points to a potential upside of 10.07% from the stock’s current price.

Several other analysts have also commented on the company. Stephens increased their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Truist Financial decreased their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.40.

Seacoast Banking Co. of Florida Stock Down 0.8 %

SBCF traded down $0.23 on Wednesday, hitting $28.17. The company had a trading volume of 72,637 shares, compared to its average volume of 355,482. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 20.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a fifty day moving average price of $28.11 and a 200-day moving average price of $27.44. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. Analysts predict that Seacoast Banking Co. of Florida will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the transaction, the chief executive officer now directly owns 126,232 shares in the company, valued at $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several institutional investors and hedge funds have recently modified their holdings of SBCF. GAMMA Investing LLC raised its position in shares of Seacoast Banking Co. of Florida by 73.4% in the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 412 shares during the period. KBC Group NV increased its stake in shares of Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 768 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Seacoast Banking Co. of Florida in the 3rd quarter worth about $121,000. FMR LLC raised its stake in shares of Seacoast Banking Co. of Florida by 57.3% during the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock worth $143,000 after buying an additional 1,960 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Seacoast Banking Co. of Florida during the 3rd quarter valued at approximately $178,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

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.