Seacoast Banking Co. of Florida (NASDAQ:SBCF) Hits New 52-Week Low – What’s Next?

Seacoast Banking Co. of Florida (NASDAQ:SBCF)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $20.00 and last traded at $24.27, with a volume of 204 shares changing hands. The stock had previously closed at $25.80.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com cut shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Thursday. Stephens lifted 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 report on Monday, March 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $31.00 price target (up 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 given a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida presently has an average rating of “Hold” and an average target price of $30.00.

Seacoast Banking Co. of Florida Trading Down 3.8 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50-day moving average is $27.29 and its 200 day moving average is $27.60. The firm has a market capitalization of $1.94 billion, a P/E ratio of 15.87 and a beta of 1.09.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate 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, analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 3.17%. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 50.35%.

Institutional Trading of Seacoast Banking Co. of Florida

Several large investors have recently modified their holdings of SBCF. Smartleaf Asset Management LLC lifted its position in Seacoast Banking Co. of Florida by 154.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 679 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at approximately $34,000. Sterling Capital Management LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 811.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 2,370 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter worth approximately $76,000. Finally, KBC Group NV increased its stake in Seacoast Banking Co. of Florida by 33.7% in the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 1,121 shares during the last quarter. 81.77% of the stock is 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.