Seacoast Banking Co. of Florida (NASDAQ:SBCF) Cut to "Sell" at StockNews.com

StockNews.com lowered shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) from a hold rating to a sell rating in a report published on Thursday.

Several other analysts have also recently commented on SBCF. Raymond James reiterated an "outperform" rating and issued a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Stephens lifted their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $30.00.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock traded down $0.89 during midday trading on Thursday, hitting $22.69. 816,296 shares of the company's stock were exchanged, compared to its average volume of 416,737. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 15.87 and a beta of 0.97. The firm's 50 day simple moving average is $27.29 and its 200 day simple moving average is $27.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85.

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Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its earnings results 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 return on equity of 5.91% and a net margin of 14.95%. Equities research analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 3.17%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is currently 50.35%.

Institutional Trading of Seacoast Banking Co. of Florida

Several large investors have recently modified their holdings of SBCF. Smartleaf Asset Management LLC lifted its stake in Seacoast Banking Co. of Florida by 154.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock valued at $31,000 after buying an additional 679 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the fourth quarter valued at $34,000. Sterling Capital Management LLC boosted its stake in shares of 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 acquiring an additional 2,370 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Seacoast Banking Co. of Florida during the 4th quarter worth about $76,000. Finally, KBC Group NV increased 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 purchasing an additional 1,121 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

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.