Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Gap Down – Should You Sell?

Seacoast Banking Co. of Florida (NASDAQ:SBCF)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $26.63, but opened at $25.80. Seacoast Banking Co. of Florida shares last traded at $26.48, with a volume of 35,378 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SBCF shares. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. 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. Finally, Stephens upped their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. of Florida Stock Up 0.0 %

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.28 billion, a PE ratio of 18.65 and a beta of 1.09. The firm’s fifty day simple moving average is $27.57 and its 200-day simple moving average is $27.70.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. As a group, equities research analysts expect that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Seacoast Banking Co. of Florida by 97.8% during the third quarter. BNP Paribas Financial Markets now owns 34,238 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 16,930 shares during the last quarter. Jane Street Group LLC grew its stake in Seacoast Banking Co. of Florida by 35.0% during the third quarter. Jane Street Group LLC now owns 105,808 shares of the financial services provider’s stock worth $2,820,000 after buying an additional 27,403 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 849,811 shares of the financial services provider’s stock valued at $22,647,000 after acquiring an additional 56,897 shares during the period. State Street Corp lifted its holdings in shares of Seacoast Banking Co. of Florida by 0.7% during the 3rd quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock valued at $112,978,000 after acquiring an additional 28,066 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Seacoast Banking Co. of Florida by 14.6% in the 3rd quarter. Citigroup Inc. now owns 157,927 shares of the financial services provider’s stock valued at $4,209,000 after purchasing an additional 20,122 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

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.