Stephens 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 stock analysts at Stephens from $28.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price target points to a potential upside of 8.11% from the company’s current price.

A number of other brokerages also recently issued reports on SBCF. Raymond James reiterated an “outperform” rating and set a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. StockNews.com lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned 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 price target of $29.40.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock opened at $24.05 on Monday. Seacoast Banking Co. of Florida has a one year low of $21.36 and a one year high of $31.68. The firm has a 50-day simple moving average of $25.05 and a two-hundred day simple moving average of $27.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 16.82 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The firm had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.41 million. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several hedge funds have recently added to or reduced their stakes in SBCF. North Reef Capital Management LP lifted its holdings in shares of Seacoast Banking Co. of Florida by 3.7% during the fourth quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider’s stock worth $116,452,000 after purchasing an additional 150,000 shares during the period. Dimensional Fund Advisors LP increased its position in Seacoast Banking Co. of Florida by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider’s stock worth $82,195,000 after purchasing an additional 16,214 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Seacoast Banking Co. of Florida by 0.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,011,523 shares of the financial services provider’s stock worth $55,377,000 after purchasing an additional 14,536 shares during the period. Segall Bryant & Hamill LLC raised its stake in shares of Seacoast Banking Co. of Florida by 0.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider’s stock valued at $51,156,000 after acquiring an additional 11,765 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,160,182 shares of the financial services provider’s stock worth $31,940,000 after purchasing an additional 27,825 shares in the last quarter. 81.77% of the stock is currently owned by hedge funds and other 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.