Seacoast Banking Co. of Florida (NASDAQ:SBCF) Given Average Recommendation of “Hold” by Brokerages

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $29.40.

A number of analysts have recently issued reports on SBCF shares. Raymond James reiterated an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Truist Financial reduced their price objective on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research report 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 stock an “equal weight” rating in a research report on Monday, October 28th. Finally, StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th.

Seacoast Banking Co. of Florida Stock Down 3.3 %

Seacoast Banking Co. of Florida stock opened at $28.17 on Friday. The company’s 50 day simple moving average is $27.77 and its 200 day simple moving average is $27.65. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 19.70 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. As a group, sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.56%. Seacoast Banking Co. of Florida’s dividend payout ratio is 50.35%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its stake in Seacoast Banking Co. of Florida by 154.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 679 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC boosted its holdings in Seacoast Banking Co. of Florida by 811.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 2,370 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $76,000. Finally, KBC Group NV boosted its holdings in shares of Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after buying an additional 768 shares in 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.