Seacoast Banking Co. of Florida (SBCF) Given Average Rating of “Hold” by Brokerages

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Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) have received an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $31.75.

SBCF has been the topic of several recent research reports. ValuEngine downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. BidaskClub downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Saturday, September 29th. Zacks Investment Research raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. B. Riley lowered their target price on Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Finally, Sandler O’Neill set a $31.00 target price on Seacoast Banking Co. of Florida and gave the company a “hold” rating in a research report on Saturday, July 28th.

SBCF opened at $26.87 on Friday. Seacoast Banking Co. of Florida has a 1 year low of $21.74 and a 1 year high of $34.95. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 20.99 and a beta of 0.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.07). Seacoast Banking Co. of Florida had a net margin of 22.30% and a return on equity of 10.20%. The firm had revenue of $63.85 million during the quarter, compared to analyst estimates of $65.27 million. On average, analysts expect that Seacoast Banking Co. of Florida will post 1.55 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in SBCF. Wells Fargo & Company MN increased its position in shares of Seacoast Banking Co. of Florida by 4.1% in the first quarter. Wells Fargo & Company MN now owns 75,184 shares of the financial services provider’s stock valued at $1,990,000 after acquiring an additional 2,955 shares during the last quarter. California Public Employees Retirement System increased its position in Seacoast Banking Co. of Florida by 4.4% during the first quarter. California Public Employees Retirement System now owns 51,041 shares of the financial services provider’s stock worth $1,351,000 after buying an additional 2,172 shares during the last quarter. UBS Group AG increased its position in Seacoast Banking Co. of Florida by 30.1% during the first quarter. UBS Group AG now owns 9,176 shares of the financial services provider’s stock worth $243,000 after buying an additional 2,125 shares during the last quarter. Guggenheim Capital LLC acquired a new position in Seacoast Banking Co. of Florida during the first quarter worth approximately $2,068,000. Finally, Legal & General Group Plc increased its position in Seacoast Banking Co. of Florida by 673.3% during the first quarter. Legal & General Group Plc now owns 86,912 shares of the financial services provider’s stock worth $2,303,000 after buying an additional 75,673 shares during the last quarter. 84.30% of the stock is currently owned by institutional investors and hedge funds.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

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Analyst Recommendations for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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