BidaskClub downgraded shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) from a hold rating to a sell rating in a research note published on Tuesday.

SBCF has been the topic of several other research reports. Zacks Investment Research cut shares of Seacoast Banking Corporation of Florida from a buy rating to a hold rating in a research note on Tuesday, May 2nd. FIG Partners raised shares of Seacoast Banking Corporation of Florida from a market-perform rating to an outperform rating in a research note on Friday, May 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $22.60.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) traded down 3.33% during mid-day trading on Tuesday, reaching $23.55. 455,087 shares of the company were exchanged. The stock has a market capitalization of $1.01 billion, a P/E ratio of 26.20 and a beta of 0.78. Seacoast Banking Corporation of Florida has a 12 month low of $15.85 and a 12 month high of $25.88. The company’s 50 day moving average price is $24.12 and its 200-day moving average price is $23.48.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The firm had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $53.90 million. Seacoast Banking Corporation of Florida had a net margin of 17.09% and a return on equity of 9.80%. Seacoast Banking Corporation of Florida’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. On average, equities analysts expect that Seacoast Banking Corporation of Florida will post $1.25 earnings per share for the current fiscal year.

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In other news, Director Roger Goldman sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $22.55, for a total transaction of $67,650.00. Following the completion of the transaction, the director now owns 20,072 shares in the company, valued at approximately $452,623.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its position in Seacoast Banking Corporation of Florida by 0.5% in the second quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock valued at $100,000 after buying an additional 20 shares during the period. American International Group Inc. raised its position in Seacoast Banking Corporation of Florida by 7.2% in the first quarter. American International Group Inc. now owns 18,252 shares of the financial services provider’s stock valued at $438,000 after buying an additional 1,220 shares during the period. Wells Fargo & Company MN raised its position in Seacoast Banking Corporation of Florida by 5.1% in the first quarter. Wells Fargo & Company MN now owns 28,202 shares of the financial services provider’s stock valued at $677,000 after buying an additional 1,374 shares during the period. Nationwide Fund Advisors raised its position in Seacoast Banking Corporation of Florida by 4.8% in the first quarter. Nationwide Fund Advisors now owns 49,030 shares of the financial services provider’s stock valued at $1,176,000 after buying an additional 2,237 shares during the period. Finally, Teachers Advisors LLC raised its position in Seacoast Banking Corporation of Florida by 4.4% in the first quarter. Teachers Advisors LLC now owns 83,935 shares of the financial services provider’s stock valued at $2,013,000 after buying an additional 3,501 shares during the period. Institutional investors own 71.54% 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.

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

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