Analysts predict that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will post earnings of $0.41 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Seacoast Banking Co. of Florida’s earnings, with estimates ranging from $0.39 to $0.43. Seacoast Banking Co. of Florida posted earnings of $0.35 per share during the same quarter last year, which would suggest a positive year over year growth rate of 17.1%. The firm is expected to report its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that Seacoast Banking Co. of Florida will report full-year earnings of $1.63 per share for the current financial year, with EPS estimates ranging from $1.57 to $1.71. For the next financial year, analysts forecast that the company will report earnings of $2.11 per share, with EPS estimates ranging from $2.05 to $2.15. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, July 26th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.05). The firm had revenue of $62.98 million during the quarter, compared to analyst estimates of $64.78 million. Seacoast Banking Co. of Florida had a return on equity of 10.36% and a net margin of 22.34%. Seacoast Banking Co. of Florida’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS.

Several analysts have weighed in on the company. B. Riley cut their target price on Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 31st. ValuEngine downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research note on Monday, July 30th. Zacks Investment Research downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Hovde Group lifted 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. Finally, BidaskClub downgraded Seacoast Banking Co. of Florida from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 13th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.17.

In related news, EVP Charles K. Jr. Cross sold 1,754 shares of Seacoast Banking Co. of Florida stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $29.50, for a total value of $51,743.00. Following the transaction, the executive vice president now directly owns 16,681 shares in the company, valued at approximately $492,089.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger Goldman sold 2,000 shares of Seacoast Banking Co. of Florida stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $29.75, for a total value of $59,500.00. Following the completion of the transaction, the director now owns 12,815 shares in the company, valued at $381,246.25. The disclosure for this sale can be found here. Insiders sold a total of 5,014 shares of company stock worth $150,618 in the last three months. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in shares of Seacoast Banking Co. of Florida by 35.9% during the fourth quarter. Wells Fargo & Company MN now owns 72,229 shares of the financial services provider’s stock valued at $1,821,000 after buying an additional 19,078 shares in the last quarter. Geode Capital Management LLC grew its stake in Seacoast Banking Co. of Florida by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 394,269 shares of the financial services provider’s stock valued at $9,938,000 after purchasing an additional 30,567 shares in the last quarter. Alliancebernstein L.P. grew its stake in Seacoast Banking Co. of Florida by 11.6% in the fourth quarter. Alliancebernstein L.P. now owns 76,440 shares of the financial services provider’s stock valued at $1,927,000 after purchasing an additional 7,940 shares in the last quarter. Deutsche Bank AG grew its stake in Seacoast Banking Co. of Florida by 133.0% in the fourth quarter. Deutsche Bank AG now owns 102,345 shares of the financial services provider’s stock valued at $2,579,000 after purchasing an additional 58,428 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Seacoast Banking Co. of Florida by 44.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 159,333 shares of the financial services provider’s stock valued at $4,017,000 after purchasing an additional 48,753 shares in the last quarter. Institutional investors and hedge funds own 82.56% of the company’s stock.

Shares of Seacoast Banking Co. of Florida traded up $0.01, hitting $29.94, during mid-day trading on Friday, according to MarketBeat Ratings. The company had a trading volume of 197,595 shares, compared to its average volume of 239,732. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 19.95 and a beta of 0.62. Seacoast Banking Co. of Florida has a 12 month low of $20.58 and a 12 month high of $34.95. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38.

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

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