Seacoast Banking Co. of Florida (NASDAQ:SBCF) upgraded by StockNews.com to hold

Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Note) was upgraded by StockNews.com equity research analysts from a “sell” rating to a “hold” rating in a report released Wednesday.

Several other analysts have also recently commented on SBCF. B. Riley cut his price target on shares of Seacoast Banking Co. of Florida from $36.00 to $34.00 in a Monday, July 11 research note. Truist Financial cut its price target on Seacoast Banking Co. of Florida stock from $41.00 to $38.00 and set a “buy” rating for the company in a Wednesday, September 14 research note . Three analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Seacoast Banking Co. of Florida trades up 0.4%

The NASDAQ SBCF opened at $32.87 on Wednesday. The company has a debt ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $2.02 billion, a price-earnings ratio of 17.48 and a beta of 1.13. The company’s 50-day simple moving average is $33.73 and its two-hundred-day simple moving average is $33.75. Seacoast Banking Co. of Florida has a one-year low of $30.21 and a one-year high of $39.31.

Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) last released quarterly earnings data on Thursday, July 28. The financial services provider reported earnings per share (EPS) of $0.53 for the quarter, meeting analyst consensus estimates of $0.53. Seacoast Banking Co. of Florida had a net margin of 29.70% and a return on equity of 9.80%. During the same period of the previous year, the company posted EPS of $0.59. Stock analysts expect Seacoast Banking Co. of Florida to post EPS of 1.91 for the current fiscal year.

Insider Trading at Seacoast Banking Co. of Florida

Separately, director Dennis S. Hudson III sold 2,542 shares of the company in a transaction that took place on Monday, August 15. The shares were sold at an average price of $35.48, for a total value of $90,190.16. Following the sale, the director now owns 169,698 shares of the company, valued at $6,020,885.04. The sale was disclosed in a filing with the SEC, accessible via this hyperlink. Separately, director Dennis S. Hudson III sold 8,000 shares of the company in a transaction dated Monday, August 1. The stock was sold at an average price of $36.00, for a total transaction of $288,000.00. Following the completion of the sale, the administrator now owns 169,698 shares of the company, valued at approximately $6,109,128. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, director Dennis S. Hudson III sold 2,542 shares of the company in a trade that took place on Monday, August 15. The stock was sold at an average price of $35.48, for a total value of $90,190.16. Following the transaction, the administrator now directly owns 169,698 shares of the company, valued at $6,020,885.04. The disclosure of this sale can be found here. Company insiders hold 2.00% of the company’s shares.

Institutional entries and exits

A number of institutional investors have recently increased or reduced their stake in SBCF. BlackRock Inc. increased its equity stake in Seacoast Banking Co. of Florida by 2.2% in Q1. BlackRock Inc. now owns 8,819,313 shares of the financial services provider valued at $308,854,000 after acquiring an additional 193,486 shares in the last quarter. Capital World Investors increased its stake in Seacoast Banking Co. of Florida by 1.2% during the first quarter. Capital World Investors now owns 4,156,901 shares of the financial services provider valued at $145,575,000 after buying an additional 50,000 shares last quarter. Vanguard Group Inc. increased its stake in Seacoast Banking Co. of Florida by 3.6% in Q1. Vanguard Group Inc. now owns 3,749,747 shares of the financial services provider valued at $131,316,000 after buying an additional 130,458 shares last quarter. State Street Corp increased its stake in shares of Seacoast Banking Co. of Florida by 30.6% in Q1. State Street Corp now owns 3,042,733 shares of the financial services provider valued at $106,557,000 after purchasing an additional 713,391 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Seacoast Banking Co. of Florida by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,447 shares of the financial services provider valued at $60,813,000 after purchasing an additional 49,648 shares during the period. 84.15% of the shares are currently held by institutional investors.

Company Profile Seacoast Banking Co. of Florida

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Seacoast Banking Corporation of Florida operates as a bank holding company for Seacoast National Bank which provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management and mortgages; and brokerage and annuity services.

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