Seacoast Banking Co. of Florida (SBCF) Lifted 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 research note issued to investors on Friday morning, BidAskClub reports.

A number of other research analysts have also recently issued reports on the stock. FIG Partners cut shares of Seacoast Banking Co. of Florida from an outperform rating to a market perform rating in a research report on Friday, January 25th. Zacks Investment Research cut shares of Seacoast Banking Co. of Florida from a hold rating to a sell rating in a research report on Friday, January 11th. Finally, Hovde Group cut shares of Seacoast Banking Co. of Florida from an outperform rating to a market perform rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $31.63.

Shares of NASDAQ SBCF opened at $27.38 on Friday. Seacoast Banking Co. of Florida has a 1 year low of $21.74 and a 1 year high of $34.95. The stock has a market cap of $1.43 billion, a P/E ratio of 16.90 and a beta of 0.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.91.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. Seacoast Banking Co. of Florida had a net margin of 23.08% and a return on equity of 10.49%. The company had revenue of $72.70 million during the quarter, compared to analysts’ expectations of $72.01 million. During the same period last year, the company posted $0.37 EPS. Seacoast Banking Co. of Florida’s revenue was down 2.9% on a year-over-year basis. As a group, research analysts forecast that Seacoast Banking Co. of Florida will post 1.98 earnings per share for the current fiscal year.

In other Seacoast Banking Co. of Florida news, EVP Charles M. Shaffer sold 4,414 shares of Seacoast Banking Co. of Florida stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $27.50, for a total value of $121,385.00. Following the completion of the transaction, the executive vice president now directly owns 14,881 shares of the company’s stock, valued at $409,227.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Co. of Florida stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $29.31, for a total transaction of $234,480.00. Following the completion of the transaction, the chief executive officer now directly owns 35,839 shares of the company’s stock, valued at $1,050,441.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,226 shares of company stock valued at $637,843. 2.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. Bank of Montreal Can raised its holdings in Seacoast Banking Co. of Florida by 16.0% in the fourth quarter. Bank of Montreal Can now owns 3,120 shares of the financial services provider’s stock worth $81,000 after buying an additional 431 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Seacoast Banking Co. of Florida by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 17,306 shares of the financial services provider’s stock worth $450,000 after buying an additional 674 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Seacoast Banking Co. of Florida by 35.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,723 shares of the financial services provider’s stock worth $71,000 after buying an additional 716 shares during the last quarter. New York State Teachers Retirement System raised its holdings in Seacoast Banking Co. of Florida by 5.5% in the fourth quarter. New York State Teachers Retirement System now owns 21,284 shares of the financial services provider’s stock worth $554,000 after buying an additional 1,104 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. raised its holdings in Seacoast Banking Co. of Florida by 11.7% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 12,108 shares of the financial services provider’s stock worth $315,000 after buying an additional 1,271 shares during the last quarter. 82.60% of the stock is owned by institutional investors and hedge funds.

About Seacoast Banking Co. of Florida

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

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