Seacoast Banking Co. of Florida (NASDAQ:SBCF) PT Lowered to $24.00 at Truist Financial

Seacoast Banking Co. of Florida (NASDAQ:SBCFFree Report) had its price objective cut by Truist Financial from $25.00 to $24.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Hovde Group cut their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an outperform rating on the stock in a report on Monday, April 29th. Keefe, Bruyette & Woods upgraded shares of Seacoast Banking Co. of Florida from a market perform rating to an outperform rating and upped their price objective for the company from $26.00 to $27.00 in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $26.10.

Check Out Our Latest Research Report on Seacoast Banking Co. of Florida

Seacoast Banking Co. of Florida Stock Performance

Shares of Seacoast Banking Co. of Florida stock opened at $24.46 on Monday. The company has a market capitalization of $2.08 billion, a PE ratio of 17.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $23.34 and a two-hundred day simple moving average of $24.40. Seacoast Banking Co. of Florida has a one year low of $19.04 and a one year high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCFGet Free Report) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). The firm had revenue of $125.58 million during the quarter, compared to the consensus estimate of $127.95 million. Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. Research analysts expect that Seacoast Banking Co. of Florida will post 1.42 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.18 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.72 annualized dividend and a yield of 2.94%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 51.43%.

Insider Buying and Selling

In related news, EVP James C. Stallings III sold 3,855 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $24.44, for a total value of $94,216.20. Following the transaction, the executive vice president now owns 3,961 shares in the company, valued at approximately $96,806.84. The sale was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several hedge funds and other institutional investors have recently bought and sold shares of SBCF. GAMMA Investing LLC acquired a new position in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $25,000. Good Life Advisors LLC purchased a new stake in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $205,000. Janney Montgomery Scott LLC boosted its position in Seacoast Banking Co. of Florida by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 460 shares in the last quarter. Xcel Wealth Management LLC purchased a new stake in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $238,000. Finally, SG Americas Securities LLC purchased a new stake in Seacoast Banking Co. of Florida in the 1st quarter worth approximately $263,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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