Seacoast Banking Co. of Florida (NASDAQ:SBCF) Upgraded by StockNews.com to Hold Rating

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Wednesday.

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

Seacoast Banking Co. of Florida Stock Performance

SBCF traded up $0.15 on Wednesday, reaching $28.45. 506,669 shares of the stock were exchanged, compared to its average volume of 340,497. The company's 50-day moving average price is $28.01 and its 200 day moving average price is $27.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.86. The firm has a market capitalization of $2.43 billion, a PE ratio of 19.90 and a beta of 1.09. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) 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 net margin of 14.95% and a return on equity of 5.91%. As a group, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Charles M. Shaffer sold 21,255 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the sale, the chief executive officer now owns 126,232 shares of the company's stock, valued at approximately $3,832,403.52. This represents a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in shares of Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider's stock worth $26,000 after acquiring an additional 412 shares during the period. Kestra Investment Management LLC purchased a new position in Seacoast Banking Co. of Florida during the fourth quarter worth about $34,000. Venturi Wealth Management LLC acquired a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at about $76,000. KBC Group NV grew its stake in shares of Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider's stock valued at $89,000 after buying an additional 768 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Seacoast Banking Co. of Florida during the 3rd quarter worth approximately $121,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

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.