Seacoast Banking Co. of Florida (NASDAQ:SBCF) Upgraded by StockNews.com to “Hold” Rating

Seacoast Banking Co. of Florida (NASDAQ:SBCF) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other equities research analysts also recently commented on SBCF. Stephens upped their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Truist Financial dropped their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Finally, Raymond James restated an “outperform” rating and issued a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $29.40.

Seacoast Banking Co. of Florida Price Performance

NASDAQ SBCF traded down $0.14 on Wednesday, hitting $28.25. 466,146 shares of the company were exchanged, compared to its average volume of 378,275. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The company has a market cap of $2.41 billion, a P/E ratio of 20.47 and a beta of 1.09. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $28.09 and a two-hundred day moving average of $27.45.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. On average, equities analysts predict that Seacoast Banking Co. of Florida will post 1.39 EPS for the current year.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the transaction, the chief executive officer now owns 126,232 shares in the company, valued at $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Seacoast Banking Co. of Florida by 7.9% during the 3rd 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. Tributary Capital Management LLC raised its stake in shares of Seacoast Banking Co. of Florida by 44.4% during the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock valued at $18,028,000 after acquiring an additional 201,494 shares during the last quarter. abrdn plc lifted its holdings in shares of Seacoast Banking Co. of Florida by 10.9% during the third quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock worth $29,914,000 after purchasing an additional 110,582 shares during the period. Barclays PLC grew its stake in shares of Seacoast Banking Co. of Florida by 112.0% in the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider’s stock worth $4,754,000 after purchasing an additional 94,242 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its stake in shares of Seacoast Banking Co. of Florida by 24.2% in the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock worth $12,551,000 after purchasing an additional 91,900 shares during the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

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.