Seacoast Banking Co. of Florida (NASDAQ:SBCF) Given Consensus Recommendation of "Hold" by Brokerages

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) has been given an average recommendation of "Hold" by the five research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $29.40.

Several equities analysts have commented on SBCF shares. Raymond James reiterated an "outperform" rating and set a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research note on Wednesday. Stephens lifted their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, October 28th. Finally, Truist Financial decreased their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating for the company in a report on Monday, October 28th.

Insiders Place Their Bets

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the sale, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company's stock.

Institutional Trading of Seacoast Banking Co. of Florida

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ceredex Value Advisors LLC boosted its stake in Seacoast Banking Co. of Florida by 24.2% during the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider's stock worth $12,551,000 after buying an additional 91,900 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Seacoast Banking Co. of Florida by 97.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,238 shares of the financial services provider's stock worth $912,000 after acquiring an additional 16,930 shares during the period. Curi RMB Capital LLC boosted its position in shares of Seacoast Banking Co. of Florida by 5.0% during the 3rd quarter. Curi RMB Capital LLC now owns 544,914 shares of the financial services provider's stock valued at $14,522,000 after acquiring an additional 26,121 shares in the last quarter. Jane Street Group LLC increased its stake in Seacoast Banking Co. of Florida by 35.0% in the third quarter. Jane Street Group LLC now owns 105,808 shares of the financial services provider's stock valued at $2,820,000 after acquiring an additional 27,403 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Seacoast Banking Co. of Florida by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 849,811 shares of the financial services provider's stock worth $22,647,000 after purchasing an additional 56,897 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Up 0.5 %

Seacoast Banking Co. of Florida stock traded up $0.15 during mid-day trading on Wednesday, hitting $28.45. 506,669 shares of the company's stock were exchanged, compared to its average volume of 340,497. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The stock has a 50 day moving average of $28.01 and a two-hundred day moving average of $27.47. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.43 billion, a P/E ratio of 19.90 and a beta of 1.09.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, analysts anticipate that Seacoast Banking Co. of Florida will post 1.59 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida's payout ratio is currently 50.35%.

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.