Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have received an average rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.67.

Several research firms recently issued reports on SBCF. BidaskClub upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, FBR & Co restated a “buy” rating and set a $27.00 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Tuesday, September 5th.

Shares of Seacoast Banking Corporation of Florida (NASDAQ SBCF) traded down 0.08% during trading on Wednesday, reaching $24.34. 112,972 shares of the company traded hands. The firm has a 50 day moving average of $22.79 and a 200 day moving average of $23.49. The stock has a market capitalization of $1.04 billion, a PE ratio of 27.07 and a beta of 0.76. Seacoast Banking Corporation of Florida has a 52 week low of $16.09 and a 52 week high of $25.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Seacoast Banking Corporation of Florida had a net margin of 17.09% and a return on equity of 9.20%. The firm had revenue of $54.60 million during the quarter, compared to analysts’ expectations of $53.90 million. During the same period last year, the business earned $0.24 earnings per share. Seacoast Banking Corporation of Florida’s revenue was up 25.2% compared to the same quarter last year. On average, equities analysts predict that Seacoast Banking Corporation of Florida will post $1.23 EPS for the current year.

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In other Seacoast Banking Corporation of Florida news, Director Roger Goldman sold 2,200 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total transaction of $53,042.00. Following the completion of the sale, the director now directly owns 20,072 shares in the company, valued at $483,935.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE increased its position in shares of Seacoast Banking Corporation of Florida by 0.5% during the second quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 20 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Seacoast Banking Corporation of Florida by 3,190.8% during the second quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 4,148 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at about $116,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at about $200,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at about $209,000. Institutional investors and hedge funds own 77.46% of the company’s stock.

About Seacoast Banking Corporation of Florida

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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