Seacoast Banking Corporation of Florida (NASDAQ:SBCF) to Post Q3 2017 Earnings of $0.34 Per Share, FIG Partners Forecasts

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – Analysts at FIG Partners upped their Q3 2017 earnings per share estimates for shares of Seacoast Banking Corporation of Florida in a research report issued on Friday. FIG Partners analyst C. Marinac now forecasts that the financial services provider will earn $0.34 per share for the quarter, up from their prior forecast of $0.33. FIG Partners has a “Outperform” rating on the stock. FIG Partners also issued estimates for Seacoast Banking Corporation of Florida’s Q4 2017 earnings at $0.36 EPS and FY2018 earnings at $1.60 EPS.

Several other research firms have also commented on SBCF. Zacks Investment Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, April 26th. BidaskClub raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $22.60.

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Shares of Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at 23.37 on Monday. The company has a 50 day moving average of $24.08 and a 200-day moving average of $23.51. Seacoast Banking Corporation of Florida has a 12-month low of $15.85 and a 12-month high of $25.88. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 26.00 and a beta of 0.78.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. Seacoast Banking Corporation of Florida had a net margin of 17.09% and a return on equity of 9.80%. The firm had revenue of $54.60 million for the quarter, compared to analyst estimates of $53.90 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 25.2% compared to the same quarter last year.

Large investors have recently bought and sold shares of the company. Jennison Associates LLC acquired a new stake in Seacoast Banking Corporation of Florida during the first quarter valued at approximately $17,287,000. Wells Fargo & Company MN raised its stake in Seacoast Banking Corporation of Florida by 5.1% in the first quarter. Wells Fargo & Company MN now owns 28,202 shares of the financial services provider’s stock valued at $677,000 after buying an additional 1,374 shares during the last quarter. BB&T Corp acquired a new stake in Seacoast Banking Corporation of Florida during the first quarter valued at approximately $469,000. Hillcrest Asset Management LLC raised its stake in Seacoast Banking Corporation of Florida by 7.9% in the first quarter. Hillcrest Asset Management LLC now owns 408,143 shares of the financial services provider’s stock valued at $9,787,000 after buying an additional 29,890 shares during the last quarter. Finally, Investment Counselors of Maryland LLC raised its stake in Seacoast Banking Corporation of Florida by 18.9% in the first quarter. Investment Counselors of Maryland LLC now owns 271,889 shares of the financial services provider’s stock valued at $6,520,000 after buying an additional 43,190 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Roger Goldman sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $22.55, for a total transaction of $67,650.00. Following the sale, the director now owns 20,072 shares of the company’s stock, valued at $452,623.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

Earnings History and Estimates for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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