Zacks Investment Research cut shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) from a hold rating to a sell rating in a research note 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 research analysts have also recently issued research reports about the company. BidaskClub raised Seacoast Banking Corporation of Florida from a sell rating to a hold rating in a research note on Thursday, July 6th. FBR & Co reissued a buy rating on shares of Seacoast Banking Corporation of Florida in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $24.67.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at $24.31 on Wednesday. The company has a market capitalization of $1,057.78, a price-to-earnings ratio of 20.26 and a beta of 0.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.83 and a quick ratio of 0.83. Seacoast Banking Corporation of Florida has a 12 month low of $16.82 and a 12 month high of $25.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $57.10 million for the quarter, compared to analysts’ expectations of $57.55 million. Seacoast Banking Corporation of Florida had a return on equity of 9.78% and a net margin of 18.48%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. equities analysts forecast that Seacoast Banking Corporation of Florida will post 1.24 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 the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its holdings 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 worth $100,000 after purchasing an additional 20 shares during the period. Alpine Woods Capital Investors LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 7.7% during the second quarter. Alpine Woods Capital Investors LLC now owns 14,000 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 1,000 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 1.3% during the second quarter. Teachers Advisors LLC now owns 85,014 shares of the financial services provider’s stock worth $2,049,000 after purchasing an additional 1,079 shares during the period. American International Group Inc. boosted its holdings in shares of Seacoast Banking Corporation of Florida by 7.2% during the first quarter. American International Group Inc. now owns 18,252 shares of the financial services provider’s stock worth $438,000 after purchasing an additional 1,220 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Seacoast Banking Corporation of Florida by 5.1% during the first quarter. Wells Fargo & Company MN now owns 28,202 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 1,374 shares during the period. Institutional investors own 77.51% of the company’s stock.

Seacoast Banking Corporation of Florida Company Profile

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.

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

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