Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has received a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.50.

Several equities research analysts have recently issued reports on the company. Piper Sandler lifted their price target on Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the company a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd.

Insiders Place Their Bets

In other Seacoast Banking Corporation of Florida news, Director Dennis Hudson, III sold 12,000 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $34.15, for a total transaction of $409,800.00. Following the transaction, the director directly owned 206,869 shares of the company’s stock, valued at $7,064,576.35. This represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Juliette Kleffel sold 14,831 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $34.31, for a total value of $508,851.61. Following the transaction, the executive vice president owned 78,321 shares in the company, valued at approximately $2,687,193.51. This trade represents a 15.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,831 shares of company stock valued at $1,054,652 over the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Nykredit A S bought a new position in shares of Seacoast Banking Corporation of Florida in the 2nd quarter valued at approximately $30,000. Range Advisory LLC bought a new stake in Seacoast Banking Corporation of Florida during the second quarter worth approximately $285,000. Corient Private Wealth LP bought a new stake in Seacoast Banking Corporation of Florida during the second quarter worth approximately $408,000. Advus Financial Partners LLC acquired a new position in Seacoast Banking Corporation of Florida during the second quarter valued at approximately $271,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Seacoast Banking Corporation of Florida during the second quarter valued at approximately $216,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ:SBCF opened at $33.03 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.35. Seacoast Banking Corporation of Florida has a 1 year low of $28.58 and a 1 year high of $36.27. The business has a fifty day simple moving average of $34.24 and a 200 day simple moving average of $32.30. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 21.04 and a beta of 0.84.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%.The firm had revenue of $210.00 million for the quarter, compared to the consensus estimate of $209.84 million. As a group, sell-side analysts predict that Seacoast Banking Corporation of Florida will post 2.55 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Seacoast Banking Corporation of Florida’s payout ratio is presently 48.41%.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is the bank holding company for Seacoast National Bank, a community-focused financial institution headquartered in Stuart, Florida. Founded in 1926, the company serves consumers, businesses, and institutions through a network of banking offices and digital channels across Florida.

Seacoast National Bank provides a range of financial services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, and business financing.