Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.
Several other equities research analysts also recently commented on SBCF. Truist Financial dropped their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Raymond James reissued an “outperform” rating and set a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday. Finally, Stephens boosted 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 report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus target price of $29.40.
Read Our Latest Research Report on SBCF
Seacoast Banking Co. of Florida Price Performance
Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. As a group, analysts predict that Seacoast Banking Co. of Florida will post 1.39 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the transaction, the chief executive officer now owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.
Institutional Trading of Seacoast Banking Co. of Florida
Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in shares of Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock worth $112,978,000 after acquiring an additional 28,066 shares in the last quarter. Wellington Management Group LLP lifted its stake in Seacoast Banking Co. of Florida by 7.9% during the third quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock worth $111,144,000 after purchasing an additional 305,843 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Seacoast Banking Co. of Florida by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock worth $53,959,000 after purchasing an additional 23,396 shares during the period. Segall Bryant & Hamill LLC increased its stake in Seacoast Banking Co. of Florida by 0.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,846,418 shares of the financial services provider’s stock valued at $49,207,000 after purchasing an additional 13,567 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Seacoast Banking Co. of Florida by 10.9% during the third quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock worth $29,914,000 after purchasing an additional 110,582 shares during the period. 81.77% of the stock is owned by institutional investors.
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.
Featured Articles
- Five stocks we like better than Seacoast Banking Co. of Florida
- Are Penny Stocks a Good Fit for Your Portfolio?
- How Growth Investors Find High-Growth Stocks and Maximize Returns
- What is diluted earnings per share (Diluted EPS)?
- Meta’s AI & Smart Glasses Could Drive 20%+ Upside in 2025
- 3 Best Fintech Stocks for a Portfolio Boost
- NVIDIA’s Slide Continues: Can Retail Investors Stop the Fall?
Receive News & Ratings for Seacoast Banking Co. of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Co. of Florida and related companies with MarketBeat.com's FREE daily email newsletter.