Analysts expect Seacoast Banking Co. of Florida (NASDAQ:SBCF) to post earnings of $0.41 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Seacoast Banking Co. of Florida’s earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.39. Seacoast Banking Co. of Florida posted earnings of $0.35 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.1%. The company is expected to announce its next earnings report 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 fiscal year, with EPS estimates ranging from $1.57 to $1.71. For the next year, analysts forecast that the business will post earnings of $2.09 per share, with EPS estimates ranging from $2.05 to $2.15. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, July 26th. The financial services provider reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.05). The company had revenue of $62.98 million during the quarter, compared to analysts’ expectations of $64.78 million. Seacoast Banking Co. of Florida had a net margin of 22.34% and a return on equity of 10.36%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share.

A number of research analysts recently commented on SBCF shares. Raymond James downgraded shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 29th. They noted that the move was a valuation call. Sandler O’Neill downgraded shares of Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. Hovde Group increased their target price on shares of Seacoast Banking Co. of Florida from $29.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, June 15th. BidaskClub downgraded shares of Seacoast Banking Co. of Florida from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 13th. Finally, Zacks Investment Research raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Seacoast Banking Co. of Florida has a consensus rating of “Hold” and a consensus target price of $33.20.

A number of institutional investors have recently modified their holdings of SBCF. BlackRock Inc. grew its position in Seacoast Banking Co. of Florida by 86.4% during the 1st quarter. BlackRock Inc. now owns 6,285,278 shares of the financial services provider’s stock worth $166,372,000 after purchasing an additional 2,912,480 shares during the last quarter. Waddell & Reed Financial Inc. purchased a new position in Seacoast Banking Co. of Florida during the 2nd quarter worth $18,169,000. Principal Financial Group Inc. purchased a new position in Seacoast Banking Co. of Florida during the 1st quarter worth $9,519,000. American Century Companies Inc. purchased a new position in Seacoast Banking Co. of Florida during the 2nd quarter worth $8,853,000. Finally, Cortina Asset Management LLC purchased a new position in Seacoast Banking Co. of Florida during the 1st quarter worth $6,246,000. 84.20% of the stock is currently owned by institutional investors.

NASDAQ SBCF opened at $29.66 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.46 billion, a P/E ratio of 23.17 and a beta of 0.53. Seacoast Banking Co. of Florida has a 12 month low of $22.42 and a 12 month high of $34.95.

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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