Keefe, Bruyette & Woods Cuts Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target to $26.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price target lowered by Keefe, Bruyette & Woods from $28.00 to $26.00 in a research note published on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Raymond James increased their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an outperform rating in a report on Tuesday, January 30th. Truist Financial decreased their price target on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a hold rating for the company in a research note on Monday, April 29th. Finally, Hovde Group reduced their target price on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an outperform rating on the stock in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Seacoast Banking Co. of Florida has a consensus rating of Hold and an average target price of $26.10.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF opened at $24.12 on Thursday. The stock’s 50-day simple moving average is $23.94 and its two-hundred day simple moving average is $24.53. The firm has a market capitalization of $2.05 billion, a P/E ratio of 17.23 and a beta of 1.17. The company has a quick ratio of 0.85, a current 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.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders 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 annualized dividend and a dividend yield of 2.99%. Seacoast Banking Co. of Florida’s payout ratio is 51.43%.

Institutional Trading of Seacoast Banking Co. of Florida

Several hedge funds have recently made changes to their positions in SBCF. GAMMA Investing LLC bought a new position in Seacoast Banking Co. of Florida during the fourth quarter valued at $25,000. First Horizon Advisors Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 39.8% during the third quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 520 shares in the last quarter. Good Life Advisors LLC bought a new position in Seacoast Banking Co. of Florida in the fourth quarter worth approximately $205,000. Janney Montgomery Scott LLC increased its holdings in Seacoast Banking Co. of Florida by 6.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 460 shares during the period. Finally, Xcel Wealth Management LLC bought a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at $238,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Company Profile

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.