Truist Financial Lowers Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target to $24.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price objective trimmed by Truist Financial from $25.00 to $24.00 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 equities research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Seacoast Banking Co. of Florida from a market perform rating to an outperform rating and upped their price target for the company from $26.00 to $27.00 in a report on Friday, May 31st. Hovde Group reduced their target price 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 note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $26.10.

Seacoast Banking Co. of Florida Trading Up 4.8 %

Seacoast Banking Co. of Florida stock opened at $25.63 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 18.31 and a beta of 1.10. Seacoast Banking Co. of Florida has a one year low of $19.04 and a one year high of $29.98. The company’s fifty day moving average price is $23.38 and its two-hundred day moving average price is $24.41.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.31 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.03). The business had revenue of $125.58 million for the quarter, compared to analyst estimates of $127.95 million. Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. On average, analysts forecast that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, June 14th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 51.43%.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, EVP James C. Stallings III sold 3,855 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $24.44, for a total transaction of $94,216.20. Following the completion of the sale, the executive vice president now owns 3,961 shares of the company’s stock, valued at $96,806.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Seacoast Banking Co. of Florida

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 4.2% during the first quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock worth $159,578,000 after buying an additional 254,887 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Seacoast Banking Co. of Florida by 31.7% in the third quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after purchasing an additional 1,106,724 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 15.3% in the first quarter. Westwood Holdings Group Inc. now owns 3,121,900 shares of the financial services provider’s stock valued at $79,265,000 after purchasing an additional 414,037 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Seacoast Banking Co. of Florida by 11.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock valued at $84,814,000 after purchasing an additional 310,499 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 20.6% in the fourth quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock valued at $58,262,000 after purchasing an additional 349,147 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

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.