Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target Lowered to $28.00 at Truist Financial

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) had its price objective decreased by stock analysts at Truist Financial from $30.00 to $28.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a "hold" rating on the financial services provider's stock. Truist Financial's price target suggests a potential upside of 2.87% from the company's current price.

Other equities analysts have also recently issued reports about the company. Hovde Group cut Seacoast Banking Co. of Florida from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Keefe, Bruyette & Woods restated 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $28.70.

Seacoast Banking Co. of Florida Trading Up 3.4 %

NASDAQ SBCF traded up $0.89 during trading on Monday, hitting $27.22. The stock had a trading volume of 328,263 shares, compared to its average volume of 410,109. Seacoast Banking Co. of Florida has a twelve month low of $19.90 and a twelve month high of $29.98. The firm has a 50 day moving average price of $26.75 and a 200 day moving average price of $25.14. The company has a market capitalization of $2.31 billion, a PE ratio of 19.72 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts' consensus estimates of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The firm had revenue of $130.30 million during the quarter, compared to the consensus estimate of $129.20 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company's revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current year.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Seacoast Banking Co. of Florida by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider's stock valued at $159,578,000 after acquiring an additional 254,887 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Seacoast Banking Co. of Florida by 2.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,210,657 shares of the financial services provider's stock worth $75,900,000 after purchasing an additional 88,757 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Seacoast Banking Co. of Florida by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider's stock worth $70,949,000 after purchasing an additional 27,287 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in Seacoast Banking Co. of Florida by 4.7% during the second quarter. Deprince Race & Zollo Inc. now owns 1,689,888 shares of the financial services provider's stock worth $39,949,000 after acquiring an additional 76,001 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Seacoast Banking Co. of Florida by 24.0% during the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider's stock worth $29,710,000 after acquiring an additional 226,132 shares during the last quarter. Institutional investors and hedge funds 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.