Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Gap Down – Here’s What Happened

Seacoast Banking Co. of Florida (NASDAQ:SBCF)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $26.63, but opened at $25.80. Seacoast Banking Co. of Florida shares last traded at $26.48, with a volume of 35,378 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SBCF shares. Raymond James restated an “outperform” rating and issued a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Stephens raised their target price on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Finally, StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.00.

Seacoast Banking Co. of Florida Price Performance

The company has a market capitalization of $2.28 billion, a P/E ratio of 18.65 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day moving average price of $27.57 and a 200 day moving average price of $27.70.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. On average, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared 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 is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.70%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 50.35%.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 154.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock worth $31,000 after buying an additional 679 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the fourth quarter worth $34,000. Sterling Capital Management LLC raised its position in Seacoast Banking Co. of Florida by 811.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock valued at $73,000 after buying an additional 2,370 shares during the period. Venturi Wealth Management LLC purchased a new stake in Seacoast Banking Co. of Florida in the 4th quarter worth about $76,000. Finally, KBC Group NV boosted its position in Seacoast Banking Co. of Florida by 33.7% during the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 1,121 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Company Profile

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.