Seacoast Banking Co. of Florida (NASDAQ:SBCF) PT Lowered to $29.00 at Hovde Group

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its target price cut by Hovde Group from $31.00 to $29.00 in a research note published on Monday, Marketbeat reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research analysts have also commented on the stock. Truist Financial reduced their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a hold rating for the company in a research note on Monday, April 1st. Raymond James boosted their target price on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an outperform rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Seacoast Banking Co. of Florida currently has an average rating of Hold and a consensus price target of $26.13.

Seacoast Banking Co. of Florida Trading Up 1.9 %

NASDAQ SBCF opened at $23.51 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.00 billion, a PE ratio of 16.79 and a beta of 1.16. The company has a 50 day moving average price of $23.94 and a 200 day moving average price of $24.46. Seacoast Banking Co. of Florida has a 52 week low of $17.93 and a 52 week high of $29.98.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Thursday, June 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 51.43%.

Institutional Trading of Seacoast Banking Co. of Florida

Several large investors have recently made changes to their positions in SBCF. Wellington Management Group LLP boosted its holdings in shares of Seacoast Banking Co. of Florida by 31.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after acquiring an additional 1,106,724 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $10,179,000. abrdn plc lifted its stake in shares of Seacoast Banking Co. of Florida by 40.7% in the 3rd quarter. abrdn plc now owns 1,212,652 shares of the financial services provider’s stock valued at $26,630,000 after purchasing an additional 350,726 shares during the period. Franklin Resources Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 20.6% in the 4th quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock valued at $58,262,000 after purchasing an additional 349,147 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Seacoast Banking Co. of Florida by 11.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock valued at $84,814,000 after purchasing an additional 310,499 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.