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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price target upped by stock analysts at Stephens from $28.00 to $29.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 1.70% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Raymond James reaffirmed an “outperform” rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF traded up $0.24 during trading hours on Monday, reaching $28.52. The stock had a trading volume of 70,196 shares, compared to its average volume of 381,137. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $2.44 billion, a PE ratio of 19.94 and a beta of 1.08. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The company has a 50 day moving average price of $27.80 and a two-hundred day moving average price of $27.75.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly 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 anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Hedge funds have recently bought and sold shares of the business. State Street Corp lifted its position in shares of Seacoast Banking Co. of Florida by 0.7% during the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock worth $112,978,000 after purchasing an additional 28,066 shares during the last quarter. North Reef Capital Management LP raised its stake in Seacoast Banking Co. of Florida by 3.7% in the fourth quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider’s stock worth $116,452,000 after buying an additional 150,000 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Seacoast Banking Co. of Florida by 7.9% during 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 during the period. Dimensional Fund Advisors LP boosted its position in Seacoast Banking Co. of Florida by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider’s stock valued at $82,195,000 after acquiring an additional 16,214 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Seacoast Banking Co. of Florida by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock valued at $53,959,000 after acquiring an additional 23,396 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

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.