Seacoast Banking Corporation of Florida (SBCF) Expected to Post Q1 2018 Earnings of $0.36 Per Share

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – Research analysts at FIG Partners lifted their Q1 2018 EPS estimates for Seacoast Banking Corporation of Florida in a research note issued on Monday. FIG Partners analyst C. Marinac now anticipates that the financial services provider will post earnings of $0.36 per share for the quarter, up from their previous forecast of $0.35. FIG Partners also issued estimates for Seacoast Banking Corporation of Florida’s FY2018 earnings at $1.62 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.45 EPS and FY2019 earnings at $1.78 EPS.

SBCF has been the topic of several other research reports. FBR & Co reaffirmed a “buy” rating and issued a $27.00 price target on shares of Seacoast Banking Corporation of Florida in a research report on Tuesday, September 5th. BidaskClub raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research cut shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $24.67.

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Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The business had revenue of $57.10 million during the quarter, compared to analyst estimates of $57.55 million. Seacoast Banking Corporation of Florida had a return on equity of 9.78% and a net margin of 18.48%. The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share.

In other Seacoast Banking Corporation of Florida news, Director Roger Goldman sold 2,200 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total value of $53,042.00. Following the completion of the sale, the director now owns 20,072 shares in the company, valued at approximately $483,935.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Seacoast Banking Corporation of Florida by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,629,756 shares of the financial services provider’s stock valued at $39,277,000 after buying an additional 101,925 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Seacoast Banking Corporation of Florida by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,321,937 shares of the financial services provider’s stock valued at $31,859,000 after buying an additional 12,918 shares during the last quarter. State Street Corp increased its stake in Seacoast Banking Corporation of Florida by 26.0% in the 2nd quarter. State Street Corp now owns 1,212,356 shares of the financial services provider’s stock valued at $29,218,000 after buying an additional 250,322 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Seacoast Banking Corporation of Florida by 44.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,004,387 shares of the financial services provider’s stock valued at $24,206,000 after buying an additional 308,644 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Seacoast Banking Corporation of Florida by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 989,907 shares of the financial services provider’s stock valued at $23,856,000 after buying an additional 37,305 shares during the last quarter. Hedge funds and other institutional investors own 77.51% of the company’s stock.

About Seacoast Banking Corporation of Florida

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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