Seacoast Banking Co. of Florida (NASDAQ:SBCF) Given New $26.00 Price Target at Stephens

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its target price dropped by equities research analysts at Stephens from $28.00 to $26.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ target price would indicate a potential upside of 10.80% from the company’s previous close.

Several other analysts have also recently issued reports on SBCF. StockNews.com cut shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday. Raymond James reissued an “outperform” rating and set a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and a consensus target price of $29.40.

Seacoast Banking Co. of Florida Stock Performance

SBCF traded down $0.26 on Monday, reaching $23.47. The stock had a trading volume of 61,590 shares, compared to its average volume of 422,498. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12-month low of $21.36 and a 12-month high of $31.68. The business’s 50-day moving average price is $25.26 and its two-hundred day moving average price is $27.18. The company has a market cap of $2.01 billion, a P/E ratio of 16.40 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The company had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. Sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund lifted its holdings in shares of Seacoast Banking Co. of Florida by 4.0% in the first quarter. Illinois Municipal Retirement Fund now owns 47,334 shares of the financial services provider’s stock valued at $1,218,000 after purchasing an additional 1,826 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 1st quarter valued at $27,000. Handelsbanken Fonder AB increased its stake in Seacoast Banking Co. of Florida by 23.3% during the first quarter. Handelsbanken Fonder AB now owns 20,609 shares of the financial services provider’s stock worth $530,000 after acquiring an additional 3,900 shares during the last quarter. SG Americas Securities LLC acquired a new position in Seacoast Banking Co. of Florida during the first quarter valued at approximately $471,000. Finally, GAMMA Investing LLC boosted its position in Seacoast Banking Co. of Florida by 38.0% during the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 460 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Company Profile

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.