Seacoast Banking Co. of Florida (NASDAQ:SBCF) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday, ValuEngine reports.

A number of other research analysts have also issued reports on the stock. Hovde Group raised shares of Seacoast Banking Co. of Florida from an “underperform” rating to a “market perform” rating in a research note on Tuesday, May 14th. BidaskClub lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Zacks Investment Research raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Wednesday, May 1st. Finally, FIG Partners lowered shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research note on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $30.63.

Seacoast Banking Co. of Florida stock opened at $25.56 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 15.78 and a beta of 0.74. Seacoast Banking Co. of Florida has a 52-week low of $21.74 and a 52-week high of $34.95.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $73.61 million during the quarter, compared to analyst estimates of $74.28 million. Seacoast Banking Co. of Florida had a net margin of 23.29% and a return on equity of 10.47%. During the same period in the previous year, the business posted $0.40 EPS. Equities analysts forecast that Seacoast Banking Co. of Florida will post 1.99 EPS for the current fiscal year.

In other Seacoast Banking Co. of Florida news, CEO Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $29.31, for a total transaction of $234,480.00. Following the sale, the chief executive officer now directly owns 35,839 shares in the company, valued at approximately $1,050,441.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Seacoast Banking Co. of Florida by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 549,796 shares of the financial services provider’s stock valued at $16,055,000 after purchasing an additional 46,480 shares during the period. Teachers Advisors LLC grew its holdings in Seacoast Banking Co. of Florida by 5.5% during the third quarter. Teachers Advisors LLC now owns 88,643 shares of the financial services provider’s stock valued at $2,588,000 after purchasing an additional 4,593 shares during the period. Vanguard Group Inc. grew its holdings in Seacoast Banking Co. of Florida by 3.2% during the third quarter. Vanguard Group Inc. now owns 2,762,389 shares of the financial services provider’s stock valued at $80,661,000 after purchasing an additional 85,439 shares during the period. Vanguard Group Inc grew its holdings in Seacoast Banking Co. of Florida by 3.2% during the third quarter. Vanguard Group Inc now owns 2,762,389 shares of the financial services provider’s stock valued at $80,661,000 after purchasing an additional 85,439 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Seacoast Banking Co. of Florida by 10.6% during the fourth quarter. State of Alaska Department of Revenue now owns 17,145 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 1,645 shares during the period. Institutional investors own 82.24% 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 financial services to retail and commercial customers in Florida. The company offers commercial and retail banking, wealth management, and treasury management services, as well as home mortgage products; and brokerage and annuity services.

Read More: The Role of a Fiduciary and Individual Investors

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

Receive News & Ratings for Seacoast Banking Co. of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Co. of Florida and related companies with MarketBeat.com's FREE daily email newsletter.