Seacoast Banking Corporation of Florida (SBCF) to Post Q1 2018 Earnings of $0.43 Per Share, SunTrust Banks Forecasts

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – Equities researchers at SunTrust Banks upped their Q1 2018 earnings per share (EPS) estimates for shares of Seacoast Banking Corporation of Florida in a research report issued to clients and investors on Monday. SunTrust Banks analyst M. Young now forecasts that the financial services provider will post earnings of $0.43 per share for the quarter, up from their previous forecast of $0.36. SunTrust Banks also issued estimates for Seacoast Banking Corporation of Florida’s Q3 2018 earnings at $0.50 EPS and Q4 2018 earnings at $0.51 EPS.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Saturday, December 30th. Sandler O’Neill set a $27.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the company a “hold” rating in a report on Thursday, January 4th. Hovde Group set a $27.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the company a “hold” rating in a report on Wednesday, January 3rd. BidaskClub lowered shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, FBR & Co reiterated a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research report on Friday, October 27th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Seacoast Banking Corporation of Florida has a consensus rating of “Buy” and an average price target of $27.00.

Seacoast Banking Corporation of Florida (SBCF) opened at $25.57 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.77. Seacoast Banking Corporation of Florida has a fifty-two week low of $20.58 and a fifty-two week high of $27.13. The stock has a market cap of $1,110.00, a price-to-earnings ratio of 26.09 and a beta of 0.77.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 18.48% and a return on equity of 9.37%. The firm had revenue of $57.10 million during the quarter, compared to analysts’ expectations of $57.55 million. During the same quarter last year, the company posted $0.28 earnings per share. The firm’s revenue was up 20.9% compared to the same quarter last year.

Several institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in shares of Seacoast Banking Corporation of Florida by 1.3% in the 2nd quarter. Teachers Advisors LLC now owns 85,014 shares of the financial services provider’s stock valued at $2,049,000 after acquiring an additional 1,079 shares during the period. Victory Capital Management Inc. raised its stake in shares of Seacoast Banking Corporation of Florida by 2.8% in the 2nd quarter. Victory Capital Management Inc. now owns 72,696 shares of the financial services provider’s stock valued at $1,752,000 after acquiring an additional 1,958 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Seacoast Banking Corporation of Florida by 58.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,776 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 2,498 shares during the period. Nationwide Fund Advisors increased its stake in Seacoast Banking Corporation of Florida by 4.9% during the 3rd quarter. Nationwide Fund Advisors now owns 56,538 shares of the financial services provider’s stock worth $1,351,000 after buying an additional 2,658 shares during the period. Finally, Legal & General Group Plc increased its stake in Seacoast Banking Corporation of Florida by 38.1% during the 2nd quarter. Legal & General Group Plc now owns 10,015 shares of the financial services provider’s stock worth $242,000 after buying an additional 2,761 shares during the period. 79.54% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Dennis S. Hudson III sold 2,300 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $24.22, for a total value of $55,706.00. Following the sale, the chief executive officer now directly owns 19,247 shares of the company’s stock, valued at approximately $466,162.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $24.39, for a total transaction of $195,120.00. Following the completion of the sale, the chief executive officer now directly owns 19,247 shares in the company, valued at $469,434.33. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

TRADEMARK VIOLATION WARNING: This article was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another site, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The correct version of this article can be viewed at https://www.com-unik.info/2018/01/09/seacoast-banking-corporation-of-florida-sbcf-to-post-q1-2018-earnings-of-0-43-per-share-suntrust-banks-forecasts.html.

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)

Receive News & Ratings for Seacoast Banking Corporation of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Corporation of Florida and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit