Seacoast Banking Corporation of Florida (SBCF) Receives $24.67 Consensus Target Price from Analysts

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $24.67.

A number of equities research analysts have recently commented on the stock. FBR & Co reiterated a “buy” rating and issued a $27.00 target price on shares of Seacoast Banking Corporation of Florida in a research report on Tuesday, September 5th. BidaskClub cut shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. FIG Partners upgraded shares of Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research report on Friday, May 19th. Finally, Zacks Investment Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Wednesday, June 28th.

In related news, Director Roger Goldman sold 2,200 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total value of $53,042.00. Following the completion of the sale, the director now owns 20,072 shares of the company’s stock, valued at $483,935.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SBCF. US Bancorp DE grew its holdings in shares of Seacoast Banking Corporation of Florida by 0.5% in the second quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 20 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Seacoast Banking Corporation of Florida by 3,190.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 4,148 shares during the period. Globeflex Capital L P purchased a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter valued at about $116,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter valued at about $200,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter valued at about $209,000. 77.50% of the stock is owned by hedge funds and other institutional investors.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) traded up 1.28% during trading on Friday, hitting $22.15. 96,028 shares of the company’s stock were exchanged. The company has a market cap of $948.93 million, a P/E ratio of 24.64 and a beta of 0.77. The company has a 50-day moving average of $23.01 and a 200-day moving average of $23.57. Seacoast Banking Corporation of Florida has a 12-month low of $15.85 and a 12-month high of $25.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. The business had revenue of $54.60 million during the quarter, compared to analysts’ expectations of $53.90 million. Seacoast Banking Corporation of Florida had a net margin of 17.09% and a return on equity of 9.20%. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. On average, equities analysts expect that Seacoast Banking Corporation of Florida will post $1.23 earnings per share for the current fiscal year.

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Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

Analyst Recommendations for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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