Seacoast Banking Corporation of Florida (SBCF) Stock Rating Lowered by BidaskClub

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, June 28th.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, June 28th. Guggenheim began coverage on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, March 15th. They issued a “neutral” rating and a $25.00 target price on the stock. Finally, FIG Partners raised shares of Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research note on Friday, May 19th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $22.60.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) traded up 0.79% during trading on Wednesday, reaching $24.35. The company’s stock had a trading volume of 114,747 shares. The stock has a market cap of $945.73 million, a PE ratio of 28.22 and a beta of 0.78. Seacoast Banking Corporation of Florida has a 12 month low of $15.85 and a 12 month high of $25.88. The company’s 50-day moving average is $23.58 and its 200-day moving average is $23.21.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.01. The company had revenue of $48.10 million for the quarter, compared to analyst estimates of $47.55 million. Seacoast Banking Corporation of Florida had a return on equity of 9.11% and a net margin of 16.95%. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. Equities analysts expect that Seacoast Banking Corporation of Florida will post $1.25 EPS for the current fiscal year.

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In other Seacoast Banking Corporation of Florida news, Director Roger Goldman sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $22.55, for a total value of $67,650.00. Following the completion of the transaction, the director now owns 20,072 shares in the company, valued at $452,623.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SBCF. Globeflex Capital L P purchased a new stake in Seacoast Banking Corporation of Florida during the first quarter valued at about $116,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter worth $200,000. SG Americas Securities LLC bought a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter worth $209,000. Federated Investors Inc. PA boosted its stake in shares of Seacoast Banking Corporation of Florida by 6,961.3% in the fourth quarter. Federated Investors Inc. PA now owns 9,674 shares of the financial services provider’s stock worth $213,000 after buying an additional 9,537 shares during the period. Finally, Geneva Advisors LLC bought a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter worth $240,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

Analyst Recommendations for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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