Seacoast Banking Co. of Florida (NASDAQ:SBCF) Sees Strong Trading Volume – Still a Buy?

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) saw strong trading volume on Friday . 171,970 shares changed hands during trading, a decline of 58% from the previous session’s volume of 411,521 shares.The stock last traded at $26.40 and had previously closed at $25.63.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 target price on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and upped their price target for the company from $29.00 to $31.00 in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Seacoast Banking Co. of Florida presently has an average rating of “Hold” and a consensus target price of $29.88.

Seacoast Banking Co. of Florida Stock Up 3.2 %

The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 18.44 and a beta of 1.07. The business has a 50 day moving average of $26.36 and a 200 day moving average of $24.92. 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 (NASDAQ:SBCF) last announced its quarterly earnings data 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. The company 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 quarter in the prior year, the company posted $0.37 EPS. On average, equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.43 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.72%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 51.80%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other 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 transaction, the director now owns 234,312 shares in the company, valued at approximately $6,326,424. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of hedge funds have recently added to or reduced their stakes in SBCF. GAMMA Investing LLC increased its holdings in shares of Seacoast Banking Co. of Florida by 73.4% in the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 412 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Seacoast Banking Co. of Florida by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 74,241 shares of the financial services provider’s stock valued at $1,755,000 after acquiring an additional 438 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Seacoast Banking Co. of Florida by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 460 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in Seacoast Banking Co. of Florida by 1.0% in the first quarter. Illinois Municipal Retirement Fund now owns 46,860 shares of the financial services provider’s stock worth $1,190,000 after purchasing an additional 477 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Seacoast Banking Co. of Florida by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 42,300 shares of the financial services provider’s stock worth $1,000,000 after purchasing an additional 500 shares during the period. Institutional investors 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.