Q1 2018 Earnings Estimate for Seacoast Banking Corporation of Florida Issued By B. Riley (SBCF)

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – Stock analysts at B. Riley lifted their Q1 2018 earnings per share (EPS) estimates for shares of Seacoast Banking Corporation of Florida in a research note issued to investors on Thursday. B. Riley analyst S. Moss now anticipates that the financial services provider will earn $0.40 per share for the quarter, up from their prior estimate of $0.34. B. Riley also issued estimates for Seacoast Banking Corporation of Florida’s Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.49 EPS, Q1 2019 earnings at $0.46 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.55 EPS and Q4 2019 earnings at $0.57 EPS.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 9.37% and a net margin of 18.48%. The business had revenue of $57.10 million for the quarter, compared to analyst estimates of $57.55 million. During the same period in the previous year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year.

SBCF has been the topic of a number of other reports. BidaskClub lowered Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research lowered Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Hovde Group set a $27.00 target price on Seacoast Banking Corporation of Florida and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. FBR & Co reaffirmed a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research report on Friday, October 27th. Finally, Sandler O’Neill set a $27.00 target price on Seacoast Banking Corporation of Florida and gave the stock a “hold” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $27.80.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at $27.12 on Friday. Seacoast Banking Corporation of Florida has a 52-week low of $20.58 and a 52-week high of $27.25. The stock has a market capitalization of $1,180.00, a PE ratio of 27.67 and a beta of 0.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.82 and a current ratio of 0.83.

A number of institutional investors have recently made changes to their positions in SBCF. Jennison Associates LLC increased its holdings in Seacoast Banking Corporation of Florida by 62.1% in the third quarter. Jennison Associates LLC now owns 1,601,955 shares of the financial services provider’s stock valued at $38,271,000 after buying an additional 613,947 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in Seacoast Banking Corporation of Florida by 44.4% in the second 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. State Street Corp increased its holdings in Seacoast Banking Corporation of Florida by 26.0% in the second 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. Investment Counselors of Maryland LLC increased its holdings in Seacoast Banking Corporation of Florida by 67.2% in the third quarter. Investment Counselors of Maryland LLC now owns 546,800 shares of the financial services provider’s stock valued at $13,063,000 after buying an additional 219,747 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its holdings in Seacoast Banking Corporation of Florida by 254.6% in the second quarter. Thrivent Financial For Lutherans now owns 275,280 shares of the financial services provider’s stock valued at $6,634,000 after buying an additional 197,640 shares during the last quarter. 79.54% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $24.39, for a total value of $195,120.00. Following the completion of the sale, the chief executive officer now directly owns 19,247 shares of the company’s stock, valued at $469,434.33. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Dennis S. Hudson III sold 2,300 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $24.22, for a total value of $55,706.00. Following the completion of the sale, the chief executive officer now directly owns 19,247 shares of the company’s stock, valued at $466,162.34. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

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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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