Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target Cut to $24.00 by Analysts at Truist Financial

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price target lowered by analysts at Truist Financial from $25.00 to $24.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 1.39% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Hovde Group cut their price target on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Keefe, Bruyette & Woods upgraded shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $26.00 to $27.00 in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.10.

Seacoast Banking Co. of Florida Trading Up 1.8 %

Shares of NASDAQ:SBCF opened at $23.67 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 16.91 and a beta of 1.10. Seacoast Banking Co. of Florida has a 1-year low of $19.04 and a 1-year high of $29.98. The company has a 50 day moving average price of $23.33 and a 200 day moving average price of $24.40.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.03). The company had revenue of $125.58 million for the quarter, compared to the consensus estimate of $127.95 million. Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. On average, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, EVP James C. Stallings III sold 3,855 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $24.44, for a total transaction of $94,216.20. Following the transaction, the executive vice president now directly owns 3,961 shares in the company, valued at $96,806.84. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Seacoast Banking Co. of Florida by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock valued at $159,578,000 after buying an additional 254,887 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Seacoast Banking Co. of Florida by 31.7% in the third quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after purchasing an additional 1,106,724 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Seacoast Banking Co. of Florida by 15.3% in the first quarter. Westwood Holdings Group Inc. now owns 3,121,900 shares of the financial services provider’s stock worth $79,265,000 after purchasing an additional 414,037 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Seacoast Banking Co. of Florida by 11.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock worth $84,814,000 after purchasing an additional 310,499 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Seacoast Banking Co. of Florida by 20.6% during the 4th quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock valued at $58,262,000 after purchasing an additional 349,147 shares during the period. Institutional investors own 81.77% of the company’s stock.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.