Seacoast Banking Co. of Florida (NASDAQ:SBCF) PT Lowered to $25.00 at Truist Financial

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its target price trimmed by Truist Financial from $27.00 to $25.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. Raymond James upped their price target on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Hovde Group decreased their price target on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an outperform rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $26.13.

Seacoast Banking Co. of Florida Stock Up 1.9 %

Shares of Seacoast Banking Co. of Florida stock opened at $23.51 on Monday. The company has a fifty day moving average price of $23.94 and a 200 day moving average price of $24.46. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $29.98. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 16.79 and a beta of 1.16.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.06%. Seacoast Banking Co. of Florida’s payout ratio is currently 51.43%.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC purchased a new position in Seacoast Banking Co. of Florida in the 1st quarter valued at about $348,000. Janney Montgomery Scott LLC raised its stake in shares of Seacoast Banking Co. of Florida by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 460 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Seacoast Banking Co. of Florida by 64.4% in the 1st quarter. BNP Paribas Financial Markets now owns 42,118 shares of the financial services provider’s stock valued at $1,069,000 after purchasing an additional 16,493 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 1.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 187,616 shares of the financial services provider’s stock valued at $4,764,000 after purchasing an additional 2,673 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider’s stock valued at $171,619,000 after purchasing an additional 206,002 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.