Seacoast Banking Co. of Florida (NASDAQ:SBCF) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) from a sell rating to a hold rating in a research note published on Wednesday morning.

A number of other equities research analysts have also recently commented on the stock. Raymond James reaffirmed an “outperform” rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday. Truist Financial dropped their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Stephens lifted their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Trading Down 0.5 %

Shares of Seacoast Banking Co. of Florida stock opened at $28.25 on Wednesday. The firm has a market cap of $2.41 billion, a PE ratio of 20.47 and a beta of 1.09. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a fifty day moving average price of $28.09 and a 200-day moving average price of $27.45.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. Equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.39 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.55%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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 bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Seacoast Banking Co. of Florida by 73.4% in the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 412 shares in the last quarter. KBC Group NV raised its stake in Seacoast Banking Co. of Florida by 30.0% in the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 768 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Seacoast Banking Co. of Florida in the third quarter valued at approximately $121,000. FMR LLC lifted its position in Seacoast Banking Co. of Florida by 57.3% during the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,960 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Seacoast Banking Co. of Florida in the 3rd quarter worth approximately $178,000. Institutional investors own 81.77% of the company’s stock.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.