Equities analysts expect that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will post sales of $75.36 million for the current quarter, Zacks reports. Four analysts have provided estimates for Seacoast Banking Co. of Florida’s earnings, with estimates ranging from $74.40 million to $76.90 million. Seacoast Banking Co. of Florida posted sales of $63.85 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 18%. The business is expected to issue its next earnings results on Thursday, October 24th.

On average, analysts expect that Seacoast Banking Co. of Florida will report full year sales of $299.57 million for the current financial year, with estimates ranging from $297.40 million to $304.00 million. For the next financial year, analysts forecast that the company will report sales of $316.30 million, with estimates ranging from $311.60 million to $322.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. The firm had revenue of $73.70 million for the quarter, compared to analyst estimates of $75.44 million. Seacoast Banking Co. of Florida had a net margin of 24.05% and a return on equity of 10.69%. Seacoast Banking Co. of Florida’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS.

Several equities analysts recently issued reports on SBCF shares. Zacks Investment Research downgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. B. Riley set a $30.00 price objective on shares of Seacoast Banking Co. of Florida and gave the company a “buy” rating in a research note on Thursday, July 11th. BidaskClub downgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Raymond James set a $29.00 price target on shares of Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Hovde Group upgraded shares of Seacoast Banking Co. of Florida from an “underperform” rating to a “market perform” rating in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $29.63.

In other news, EVP Juliette Kleffel sold 4,433 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $24.13, for a total value of $106,968.29. Following the sale, the executive vice president now owns 4,730 shares in the company, valued at approximately $114,134.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of SBCF. Royal Bank of Canada increased its position in Seacoast Banking Co. of Florida by 226.8% during the 2nd quarter. Royal Bank of Canada now owns 1,523 shares of the financial services provider’s stock worth $39,000 after buying an additional 1,057 shares during the period. Bank of Montreal Can grew its position in Seacoast Banking Co. of Florida by 16.5% during the first quarter. Bank of Montreal Can now owns 3,636 shares of the financial services provider’s stock worth $96,000 after buying an additional 516 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in Seacoast Banking Co. of Florida during the second quarter worth about $100,000. Everence Capital Management Inc. purchased a new stake in shares of Seacoast Banking Co. of Florida in the first quarter valued at about $224,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Seacoast Banking Co. of Florida by 59,725.0% in the first quarter. BNP Paribas Arbitrage SA now owns 9,572 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 9,556 shares in the last quarter. Institutional investors own 83.55% of the company’s stock.

Shares of SBCF traded up $0.77 on Friday, hitting $24.71. 167,700 shares of the stock traded hands, compared to its average volume of 220,414. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.24 billion, a P/E ratio of 15.25 and a beta of 0.91. The stock’s 50 day moving average is $25.69 and its two-hundred day moving average is $26.60. Seacoast Banking Co. of Florida has a 1 year low of $21.74 and a 1 year high of $31.94.

Seacoast Banking Co. of Florida Company Profile

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.

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Earnings History and Estimates for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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