Stephens Forecasts Strong Price Appreciation for Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) had its price objective raised by analysts at Stephens from $28.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Stephens' target price suggests a potential upside of 9.35% from the stock's current price.

Several other equities research analysts also recently weighed in on SBCF. Raymond James reissued an "outperform" rating and set a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. StockNews.com upgraded Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.00.

Seacoast Banking Co. of Florida Trading Down 1.9 %

NASDAQ:SBCF traded down $0.51 during midday trading on Monday, hitting $26.52. 411,565 shares of the company traded hands, compared to its average volume of 398,929. The firm has a market capitalization of $2.27 billion, a P/E ratio of 18.55 and a beta of 1.08. The firm's fifty day moving average is $27.79 and its 200-day moving average is $27.77. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SBCF. JPMorgan Chase & Co. lifted its position in shares of Seacoast Banking Co. of Florida by 182.3% in the 4th quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider's stock worth $18,730,000 after purchasing an additional 439,346 shares during the period. Wellington Management Group LLP raised its stake in Seacoast Banking Co. of Florida by 7.9% in the third quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider's stock worth $111,144,000 after buying an additional 305,843 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Seacoast Banking Co. of Florida during the fourth quarter worth $6,850,000. Tributary Capital Management LLC boosted its position in Seacoast Banking Co. of Florida by 44.4% during the 4th quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider's stock valued at $18,028,000 after acquiring an additional 201,494 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Seacoast Banking Co. of Florida by 94.5% in the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider's stock valued at $11,163,000 after acquiring an additional 197,067 shares during the period. Hedge funds and other institutional investors own 81.77% of the company's stock.

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.