StockNews.com Downgrades Seacoast Banking Co. of Florida (NASDAQ:SBCF) to Sell

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

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

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF stock opened at $22.69 on Thursday. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68. The stock’s 50-day moving average is $27.29 and its two-hundred day moving average is $27.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $1.94 billion, a P/E ratio of 15.87 and a beta of 1.09.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping 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%. Analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Hedge funds and other institutional investors have recently made changes to their positions in the business. Moody National Bank Trust Division lifted its position in shares of Seacoast Banking Co. of Florida by 9.8% during the 1st quarter. Moody National Bank Trust Division now owns 41,060 shares of the financial services provider’s stock worth $1,056,000 after purchasing an additional 3,672 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Seacoast Banking Co. of Florida in the 4th quarter valued at approximately $4,866,000. Mackenzie Financial Corp bought a new position in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $637,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 175,497 shares of the financial services provider’s stock worth $4,831,000 after buying an additional 26,631 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Seacoast Banking Co. of Florida by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 25,462 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 7,837 shares during the period. 81.77% of the stock is owned by institutional investors and hedge funds.

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.