Analysts Set Seacoast Banking Co. of Florida (NASDAQ:SBCF) PT at $29.50

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Seacoast Banking Co. of Florida (NASDAQ:SBCF) has earned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $29.50.

A number of research analysts have issued reports on the stock. BidaskClub raised shares of Seacoast Banking Co. of Florida from a “strong sell” rating to a “sell” rating in a report on Tuesday. Hovde Group raised shares of Seacoast Banking Co. of Florida from an “underperform” rating to a “market perform” rating in a report on Tuesday, May 14th. Raymond James set a $29.00 target price on Seacoast Banking Co. of Florida and gave the company a “buy” rating in a research report on Friday, June 21st. B. Riley set a $30.00 target price on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th.

A number of hedge funds and other institutional investors have recently modified their holdings of SBCF. BlackRock Inc. raised its position in Seacoast Banking Co. of Florida by 3.7% during the 2nd quarter. BlackRock Inc. now owns 7,416,663 shares of the financial services provider’s stock worth $188,679,000 after buying an additional 265,759 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Seacoast Banking Co. of Florida by 508.7% in the 2nd quarter. Morgan Stanley now owns 241,044 shares of the financial services provider’s stock valued at $6,132,000 after acquiring an additional 201,441 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the second quarter worth $4,652,000. Hillcrest Asset Management LLC increased its stake in shares of Seacoast Banking Co. of Florida by 36.0% in the first quarter. Hillcrest Asset Management LLC now owns 504,132 shares of the financial services provider’s stock worth $13,284,000 after acquiring an additional 133,462 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Seacoast Banking Co. of Florida by 6.2% in the first quarter. Jennison Associates LLC now owns 2,226,693 shares of the financial services provider’s stock worth $58,673,000 after acquiring an additional 129,399 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Shares of Seacoast Banking Co. of Florida stock traded up $0.52 during midday trading on Thursday, hitting $24.66. The company had a trading volume of 140,040 shares, compared to its average volume of 216,952. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 15.22 and a beta of 0.97. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $24.74 and a 200 day simple moving average of $26.01. Seacoast Banking Co. of Florida has a 12-month low of $21.74 and a 12-month high of $31.31.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Seacoast Banking Co. of Florida had a net margin of 24.05% and a return on equity of 10.69%. The company had revenue of $73.70 million for the quarter, compared to the consensus estimate of $75.44 million. During the same quarter in the previous year, the firm earned $0.38 EPS. Seacoast Banking Co. of Florida’s revenue was up 17.2% compared to the same quarter last year. As a group, analysts expect that Seacoast Banking Co. of Florida will post 1.95 EPS for the current year.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. The company offers commercial and retail banking, wealth management, and treasury management services, as well as home mortgage products; and brokerage and annuity services.

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