Seacoast Banking Co. of Florida (NASDAQ:SBCF) Receives $30.00 Average Price Target from Brokerages

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have received a consensus rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $30.00.

Several analysts recently commented on SBCF shares. 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 research report on Monday, March 3rd. Raymond James reissued an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Friday, April 11th.

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF opened at $22.85 on Monday. Seacoast Banking Co. of Florida has a twelve month low of $21.36 and a twelve month high of $31.68. The company has a 50 day moving average of $26.11 and a two-hundred day moving average of $27.29. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 15.98 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate 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%. As a group, analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.15%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its stake in Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock worth $112,978,000 after buying an additional 28,066 shares during the last quarter. North Reef Capital Management LP lifted its stake in shares of Seacoast Banking Co. of Florida by 3.7% in the fourth quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider’s stock worth $116,452,000 after acquiring an additional 150,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Seacoast Banking Co. of Florida by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider’s stock valued at $82,195,000 after buying an additional 16,214 shares during the last quarter. Geode Capital Management LLC grew its holdings in Seacoast Banking Co. of Florida by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock worth $53,959,000 after acquiring an additional 23,396 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its holdings in Seacoast Banking Co. of Florida by 0.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,011,523 shares of the financial services provider’s stock valued at $55,377,000 after buying an additional 14,536 shares during the last quarter. 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.