Seacoast Banking Co. of Florida (NASDAQ:SBCF) Upgraded to “Hold” at BidaskClub

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BidaskClub upgraded shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) from a sell rating to a hold rating in a report published on Monday morning, BidAskClub reports.

Other equities analysts also recently issued research reports about the company. ValuEngine downgraded Seacoast Banking Co. of Florida from a hold rating to a sell rating in a report on Wednesday, May 22nd. B. Riley set a $30.00 price target on Seacoast Banking Co. of Florida and gave the company a buy rating in a report on Thursday, July 11th. Zacks Investment Research upgraded Seacoast Banking Co. of Florida from a sell rating to a hold rating in a report on Wednesday, August 28th. Finally, Raymond James set a $29.00 price target on Seacoast Banking Co. of Florida and gave the company a buy rating in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $29.63.

Shares of SBCF stock opened at $25.65 on Monday. Seacoast Banking Co. of Florida has a 12 month low of $21.74 and a 12 month high of $31.23. 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 business’s 50 day moving average is $24.55 and its two-hundred day moving average is $25.87. The company has a market cap of $1.32 billion, a PE ratio of 15.83 and a beta of 0.97.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of Seacoast Banking Co. of Florida by 226.8% in the second quarter. Royal Bank of Canada now owns 1,523 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,057 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at approximately $456,000. Waddell & Reed Financial Inc. boosted its position in shares of Seacoast Banking Co. of Florida by 6.3% in the second quarter. Waddell & Reed Financial Inc. now owns 1,174,538 shares of the financial services provider’s stock valued at $29,880,000 after acquiring an additional 69,150 shares during the period. Hillcrest Asset Management LLC boosted its position in shares of Seacoast Banking Co. of Florida by 0.6% in the second quarter. Hillcrest Asset Management LLC now owns 507,192 shares of the financial services provider’s stock valued at $12,903,000 after acquiring an additional 3,060 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at approximately $4,652,000. 83.35% of the stock is owned by institutional investors.

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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