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

Seacoast Banking Co. of Florida (NASDAQ:SBCFGet Rating) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other analysts have also recently commented on SBCF. B. Riley decreased their price objective on shares of Seacoast Banking Co. of Florida from $36.00 to $34.00 in a research note on Monday, July 11th. Truist Financial decreased their target price on shares of Seacoast Banking Co. of Florida from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, September 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Seacoast Banking Co. of Florida Trading Up 0.4 %

NASDAQ SBCF opened at $32.87 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 17.48 and a beta of 1.13. The company’s 50-day simple moving average is $33.73 and its two-hundred day simple moving average is $33.75. Seacoast Banking Co. of Florida has a one year low of $30.21 and a one year high of $39.31.

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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 in the prior year, the company posted $0.59 EPS. Equities analysts forecast that Seacoast Banking Co. of Florida will post 1.91 EPS for the current fiscal year.

Insider Transactions at Seacoast Banking Co. of Florida

In related news, Director Dennis S. Hudson III sold 2,542 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $35.48, for a total value of $90,190.16. Following the sale, the director now owns 169,698 shares of the company’s stock, valued at $6,020,885.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $36.00, for a total transaction of $288,000.00. Following the completion of the sale, the director now owns 169,698 shares in the company, valued at approximately $6,109,128. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis S. Hudson III sold 2,542 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $35.48, for a total value of $90,190.16. Following the transaction, the director now directly owns 169,698 shares in the company, valued at $6,020,885.04. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SBCF. BlackRock Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 2.2% during the 1st quarter. BlackRock Inc. now owns 8,819,313 shares of the financial services provider’s stock valued at $308,854,000 after acquiring an additional 193,486 shares during the last quarter. Capital World Investors increased its holdings in Seacoast Banking Co. of Florida by 1.2% during the 1st quarter. Capital World Investors now owns 4,156,901 shares of the financial services provider’s stock valued at $145,575,000 after purchasing an additional 50,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in Seacoast Banking Co. of Florida by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 3,749,747 shares of the financial services provider’s stock valued at $131,316,000 after purchasing an additional 130,458 shares in the last quarter. State Street Corp increased its stake in shares of Seacoast Banking Co. of Florida by 30.6% in the 1st quarter. State Street Corp now owns 3,042,733 shares of the financial services provider’s stock valued at $106,557,000 after buying an additional 713,391 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Seacoast Banking Co. of Florida by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,447 shares of the financial services provider’s stock valued at $60,813,000 after buying an additional 49,648 shares during the period. 84.15% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Company Profile

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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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