Wall Street brokerages predict that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will post sales of $65.27 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Seacoast Banking Co. of Florida’s earnings, with the highest sales estimate coming in at $65.70 million and the lowest estimate coming in at $64.59 million. Seacoast Banking Co. of Florida posted sales of $57.18 million during the same quarter last year, which would suggest a positive year over year growth rate of 14.1%. The business is scheduled to issue its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that Seacoast Banking Co. of Florida will report full year sales of $263.08 million for the current financial year, with estimates ranging from $260.00 million to $265.30 million. For the next fiscal year, analysts expect that the business will report sales of $317.51 million, with estimates ranging from $308.90 million to $326.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Seacoast Banking Co. of Florida.

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

A number of analysts have recently weighed in on the company. ValuEngine lowered Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub lowered Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Zacks Investment Research lowered Seacoast Banking Co. of Florida from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 15th. B. Riley cut their price objective on Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Finally, Sandler O’Neill set a $31.00 price objective on Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a research report on Saturday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.20.

Seacoast Banking Co. of Florida stock opened at $28.92 on Friday. Seacoast Banking Co. of Florida has a twelve month low of $22.42 and a twelve month high of $34.95. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $1.40 billion, a PE ratio of 22.59 and a beta of 0.53.

A number of large investors have recently bought and sold shares of the stock. UBS Group AG increased its holdings in Seacoast Banking Co. of Florida by 30.1% in the first quarter. UBS Group AG now owns 9,176 shares of the financial services provider’s stock valued at $243,000 after buying an additional 2,125 shares during the last quarter. California Public Employees Retirement System increased its holdings in Seacoast Banking Co. of Florida by 4.4% in the first quarter. California Public Employees Retirement System now owns 51,041 shares of the financial services provider’s stock valued at $1,351,000 after buying an additional 2,172 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in Seacoast Banking Co. of Florida by 15.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 16,016 shares of the financial services provider’s stock valued at $506,000 after buying an additional 2,176 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in Seacoast Banking Co. of Florida by 11.6% in the second quarter. MetLife Investment Advisors LLC now owns 21,315 shares of the financial services provider’s stock valued at $673,000 after buying an additional 2,219 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Seacoast Banking Co. of Florida by 3.7% in the first quarter. Swiss National Bank now owns 64,500 shares of the financial services provider’s stock valued at $1,707,000 after buying an additional 2,300 shares during the last quarter. 84.20% of the stock is currently owned by hedge funds and other institutional investors.

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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