Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target Increased to $31.00 by Analysts at Keefe, Bruyette & Woods

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price objective upped by Keefe, Bruyette & Woods from $27.00 to $31.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other analysts have also issued reports on the stock. Truist Financial dropped their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $24.00 and set a hold rating on the stock in a research report on Monday, July 8th. Hovde Group lowered Seacoast Banking Co. of Florida from an outperform rating to a market perform rating and boosted their price objective for the stock from $29.00 to $31.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $28.50.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF opened at $27.84 on Monday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 19.89 and a beta of 1.10. The stock has a 50-day moving average of $24.28 and a 200 day moving average of $24.36. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. Seacoast Banking Co. of Florida has a twelve month low of $19.04 and a twelve month high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The business had revenue of $201.99 million during the quarter, compared to the consensus estimate of $126.00 million. During the same period in the prior year, the company posted $0.37 EPS. Sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.43 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, September 13th. Seacoast Banking Co. of Florida’s payout ratio is 51.43%.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, Director Dennis S. Hudson III sold 16,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $27.00, for a total transaction of $432,000.00. Following the completion of the sale, the director now owns 234,312 shares of the company’s stock, valued at $6,326,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP James C. Stallings III sold 3,855 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.44, for a total transaction of $94,216.20. Following the completion of the sale, the executive vice president now directly owns 3,961 shares in the company, valued at $96,806.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dennis S. Hudson III sold 16,000 shares of Seacoast Banking Co. of Florida stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total transaction of $432,000.00. Following the transaction, the director now directly owns 234,312 shares in the company, valued at $6,326,424. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Institutional Trading of Seacoast Banking Co. of Florida

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in Seacoast Banking Co. of Florida in the fourth quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at $55,000. Janney Montgomery Scott LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 6.0% during 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 during the period. Xcel Wealth Management LLC purchased a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter worth $238,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the 1st quarter worth about $263,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

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.