Zacks Investment Research lowered shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) from a hold rating to a strong sell rating in a report released on Wednesday morning.

According to Zacks, “Seacoast Banking Corp of Florida is a bank holding company. Seacoast and its subsidiaries offer a full array of deposit accounts and retail banking services, engages in consumer and commercial lending and provides a wide variety of trust and asset management services, as well as securities and annuity products. “

Other analysts have also issued reports about the company. ValuEngine upgraded Seacoast Banking Co. of Florida from a hold rating to a buy rating in a research note on Saturday, April 21st. BidaskClub upgraded Seacoast Banking Co. of Florida from a buy rating to a strong-buy rating in a research note on Friday, May 11th. Raymond James lowered Seacoast Banking Co. of Florida from an outperform rating to a market perform rating in a research note on Tuesday, May 29th. They noted that the move was a valuation call. Sandler O’Neill lowered Seacoast Banking Co. of Florida from a buy rating to a hold rating in a research note on Thursday, May 31st. Finally, Hovde Group raised their target price on Seacoast Banking Co. of Florida from $29.00 to $36.00 and gave the company an outperform rating in a research note on Friday, June 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $32.17.

Seacoast Banking Co. of Florida stock opened at $30.20 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.84 and a quick ratio of 0.83. Seacoast Banking Co. of Florida has a 52-week low of $20.58 and a 52-week high of $34.95. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 23.59 and a beta of 0.62.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 10.36% and a net margin of 22.34%. The company had revenue of $62.98 million for the quarter, compared to analyst estimates of $64.78 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.63 EPS for the current fiscal year.

In other news, Director Roger Goldman sold 1,260 shares of the firm’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $31.25, for a total value of $39,375.00. Following the completion of the sale, the director now directly owns 12,815 shares in the company, valued at $400,468.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Large investors have recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new stake in Seacoast Banking Co. of Florida in the second quarter worth about $212,000. Amalgamated Bank acquired a new stake in Seacoast Banking Co. of Florida in the second quarter worth about $216,000. Aperio Group LLC acquired a new stake in Seacoast Banking Co. of Florida in the second quarter worth about $221,000. United Services Automobile Association acquired a new stake in Seacoast Banking Co. of Florida in the second quarter worth about $232,000. Finally, Gratus Capital LLC acquired a new stake in Seacoast Banking Co. of Florida in the first quarter worth about $207,000. Institutional investors own 82.71% 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 business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

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

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