Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target Cut to $26.00 by Analysts at Stephens

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its target price reduced by Stephens from $28.00 to $26.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective suggests a potential upside of 10.80% from the stock’s current price.

Several other analysts have also issued reports on SBCF. StockNews.com lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday. Raymond James restated 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 research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.40.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ SBCF traded down $0.26 during trading on Monday, reaching $23.47. 61,590 shares of the company traded hands, compared to its average volume of 422,498. The firm has a 50 day simple moving average of $25.26 and a 200-day simple moving average of $27.18. Seacoast Banking Co. of Florida has a 52-week low of $21.36 and a 52-week high of $31.68. The stock has a market capitalization of $2.01 billion, a PE ratio of 16.40 and a beta of 0.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The firm had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.41 million. Equities research analysts anticipate 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 SBCF. Opal Wealth Advisors LLC bought a new position in Seacoast Banking Co. of Florida during the 1st quarter valued at about $27,000. Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 679 shares during the period. Kestra Investment Management LLC purchased a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at about $34,000. GAMMA Investing LLC grew its position in shares of Seacoast Banking Co. of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after buying an additional 460 shares during the last quarter. Finally, 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 valued at $73,000 after purchasing an additional 2,370 shares during the last quarter. Hedge funds and other institutional investors 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.