Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock Rating Reaffirmed by Keefe, Bruyette & Woods

Seacoast Banking Co. of Florida (NASDAQ:SBCF)‘s stock had its “outperform” rating reissued by Keefe, Bruyette & Woods in a report released on Wednesday, Benzinga reports. They currently have a $31.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 19.78% from the stock’s current price.

SBCF has been the topic of several other research reports. Hovde Group lowered Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. Truist Financial boosted their price target on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.50.

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock opened at $25.88 on Wednesday. The company’s 50 day simple moving average is $25.24 and its 200-day simple moving average is $24.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. Seacoast Banking Co. of Florida has a 1 year low of $19.04 and a 1 year high of $29.98. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 18.49 and a beta of 1.10.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $201.99 million for the quarter, compared to analyst estimates of $126.00 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. As a group, equities research analysts expect that Seacoast Banking Co. of Florida will post 1.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 value of $432,000.00. Following the completion of the transaction, the director now owns 234,312 shares in the company, valued at approximately $6,326,424. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at $25,000. Innealta Capital LLC purchased a new stake in Seacoast Banking Co. of Florida during the 2nd quarter worth about $55,000. Janney Montgomery Scott LLC boosted its position 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 acquiring an additional 460 shares in the last quarter. Algert Global LLC purchased a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at about $202,000. 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. 81.77% of the stock is currently owned by institutional investors and hedge funds.

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.