Seacoast Banking Co. of Florida (NASDAQ:SBCF) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Seacoast Banking Co. of Florida (NASDAQ:SBCFGet Rating) from a sell rating to a hold rating in a research report released on Monday morning.

A number of other equities research analysts have also issued reports on SBCF. B. Riley reduced their target price on shares of Seacoast Banking Co. of Florida from $36.00 to $34.00 in a report on Monday, July 11th. Truist Financial reduced their target price on shares of Seacoast Banking Co. of Florida from $42.00 to $39.00 and set a buy rating on the stock in a report on Wednesday, July 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of Hold and an average price target of $37.33.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF stock opened at $36.56 on Monday. The firm’s 50 day moving average price is $33.51 and its 200-day moving average price is $34.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. Seacoast Banking Co. of Florida has a one year low of $29.28 and a one year high of $39.31. The firm has a market cap of $2.24 billion, a P/E ratio of 19.45 and a beta of 1.12.

Seacoast Banking Co. of Florida (NASDAQ:SBCFGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. Seacoast Banking Co. of Florida had a net margin of 29.70% and a return on equity of 9.80%. During the same period last year, the company posted $0.59 EPS. As a group, equities research analysts predict that Seacoast Banking Co. of Florida will post 2.11 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 Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.86%. Seacoast Banking Co. of Florida’s payout ratio is 36.17%.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank N A MO acquired a new stake in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $29,000. First Horizon Advisors Inc. grew its position in shares of Seacoast Banking Co. of Florida by 156.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,638 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,000 shares during the last quarter. Fairfield Bush & CO. purchased a new position in shares of Seacoast Banking Co. of Florida in the 1st quarter valued at $60,000. Godsey & Gibb Associates purchased a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $70,000. Finally, Captrust Financial Advisors grew its position in shares of Seacoast Banking Co. of Florida by 52.1% in the 1st quarter. Captrust Financial Advisors now owns 2,973 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,018 shares during the last quarter. 79.87% of the stock is currently owned by institutional investors and hedge funds.

About Seacoast Banking Co. of Florida

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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. It offers commercial and retail banking, wealth management, and mortgage services; and brokerage and annuity services.

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