Truist Financial Boosts Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target to $30.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price objective boosted by Truist Financial from $24.00 to $30.00 in a research note issued to investors on Monday, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. Hovde Group cut shares of Seacoast Banking Co. of Florida from an outperform rating to a market perform rating and raised their price target for the stock from $29.00 to $31.00 in a report on Monday. Keefe, Bruyette & Woods raised their price target on shares of Seacoast Banking Co. of Florida from $27.00 to $31.00 and gave the stock an outperform rating in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $28.50.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock opened at $26.60 on Monday. The firm’s 50 day simple moving average is $24.36 and its 200-day simple moving average is $24.38. The company has a market cap of $2.26 billion, a P/E ratio of 19.00 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. Seacoast Banking Co. of Florida has a fifty-two week low of $19.04 and a fifty-two week high of $29.98.

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

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, September 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 51.43%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

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

Institutional Trading of Seacoast Banking Co. of Florida

A number of institutional investors and hedge funds have recently modified their holdings of the company. Trust Point Inc. bought a new position in Seacoast Banking Co. of Florida during the fourth quarter worth $415,000. One Wealth Management Investment & Advisory Services LLC bought a new position in Seacoast Banking Co. of Florida during the fourth quarter worth $1,321,000. Wealth Effects LLC increased its position in Seacoast Banking Co. of Florida by 13.8% during the fourth quarter. Wealth Effects LLC now owns 24,800 shares of the financial services provider’s stock worth $706,000 after acquiring an additional 3,000 shares during the period. Xcel Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida during the fourth quarter worth $238,000. Finally, Louisiana State Employees Retirement System bought a new position in Seacoast Banking Co. of Florida during the fourth quarter worth $1,212,000. 81.77% of the stock is currently owned by institutional investors and hedge funds.

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.