Seacoast Banking Co. of Florida (NASDAQ:SBCF) Earns Outperform Rating from Raymond James

Seacoast Banking Co. of Florida (NASDAQ:SBCF)‘s stock had its “outperform” rating reaffirmed by research analysts at Raymond James in a report released on Wednesday,Benzinga reports. They presently have a $31.00 price objective on the financial services provider’s stock, up from their prior price objective of $29.00. Raymond James’ price target suggests a potential upside of 9.54% from the stock’s previous close.

SBCF has been the topic of a number of other research reports. Truist Financial reduced their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Stephens lifted their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida presently has an average rating of “Hold” and a consensus target price of $29.40.

Seacoast Banking Co. of Florida Trading Up 0.2 %

Shares of SBCF opened at $28.30 on Wednesday. The company’s fifty day simple moving average is $28.05 and its 200-day simple moving average is $27.46. The company has a market cap of $2.42 billion, a P/E ratio of 20.51 and a beta of 1.09. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a twelve month low of $21.90 and a twelve month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. As a group, analysts expect that Seacoast Banking Co. of Florida will post 1.39 EPS for the current year.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the transaction, the chief executive officer now directly owns 126,232 shares in the company, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in shares of Seacoast Banking Co. of Florida by 83.2% during the second quarter. Renaissance Technologies LLC now owns 78,605 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 35,700 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Seacoast Banking Co. of Florida during the second quarter valued at approximately $334,000. The Manufacturers Life Insurance Company boosted its stake in Seacoast Banking Co. of Florida by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 47,424 shares of the financial services provider’s stock valued at $1,121,000 after acquiring an additional 1,317 shares in the last quarter. Algert Global LLC purchased a new position in Seacoast Banking Co. of Florida in the second quarter worth $202,000. Finally, GAMMA Investing LLC increased its position in shares of Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 412 shares in the last quarter. Institutional investors 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.