Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target Cut to $26.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price objective reduced by research analysts at Keefe, Bruyette & Woods from $28.00 to $26.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 7.79% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Truist Financial reduced their target price on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Monday, April 29th. Raymond James raised their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Finally, Hovde Group cut their price objective on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average price target of $26.10.

Seacoast Banking Co. of Florida Trading Up 0.9 %

SBCF traded up $0.21 during midday trading on Thursday, reaching $24.12. 241,435 shares of the company were exchanged, compared to its average volume of 435,631. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Co. of Florida has a one year low of $17.93 and a one year high of $29.98. The stock has a market capitalization of $2.05 billion, a P/E ratio of 17.23 and a beta of 1.17. The stock’s 50-day simple moving average is $23.94 and its 200 day simple moving average is $24.48.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Institutional investors have recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its stake in Seacoast Banking Co. of Florida by 67.5% in the 3rd quarter. First Eagle Investment Management LLC now owns 350,918 shares of the financial services provider’s stock valued at $7,706,000 after acquiring an additional 141,403 shares in the last quarter. One Wealth Management Investment & Advisory Services LLC bought a new stake in Seacoast Banking Co. of Florida in the 4th quarter valued at approximately $1,321,000. Wellington Management Group LLP lifted its stake in Seacoast Banking Co. of Florida by 31.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after acquiring an additional 1,106,724 shares in the last quarter. Deutsche Bank AG lifted its stake in Seacoast Banking Co. of Florida by 14.0% in the 3rd quarter. Deutsche Bank AG now owns 40,874 shares of the financial services provider’s stock valued at $898,000 after acquiring an additional 5,019 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Seacoast Banking Co. of Florida by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,829 shares of the financial services provider’s stock valued at $14,885,000 after acquiring an additional 39,183 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

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.