Seacoast Banking Co. of Florida (SBCF) Reaches New 1-Year High and Low at $32.68

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) reached a new 52-week high and low on Tuesday . The stock traded as low as $32.68 and last traded at $32.57, with a volume of 22659 shares changing hands. The stock had previously closed at $31.96.

Several analysts recently weighed in on SBCF shares. Zacks Investment Research downgraded shares of Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. BidaskClub upgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a report on Friday, March 9th. ValuEngine upgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a report on Saturday, April 21st. Raymond James downgraded shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 29th. They noted that the move was a valuation call. Finally, Sandler O’Neill cut shares of Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $29.00.

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $1.49 billion, a P/E ratio of 25.45 and a beta of 0.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business had revenue of $62.10 million during the quarter, compared to analysts’ expectations of $61.60 million. Seacoast Banking Co. of Florida had a net margin of 19.83% and a return on equity of 10.05%. The company’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS. analysts anticipate that Seacoast Banking Co. of Florida will post 1.75 earnings per share for the current year.

In other news, Director Roger Goldman sold 7,200 shares of Seacoast Banking Co. of Florida stock in a transaction on Friday, May 4th. The shares were sold at an average price of $27.38, for a total transaction of $197,136.00. Following the completion of the sale, the director now directly owns 13,165 shares of the company’s stock, valued at approximately $360,457.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles K. Jr. Cross sold 1,754 shares of Seacoast Banking Co. of Florida stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $29.50, for a total transaction of $51,743.00. Following the sale, the executive vice president now directly owns 16,681 shares of the company’s stock, valued at $492,089.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,785 shares of company stock valued at $391,004. Corporate insiders own 3.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Gratus Capital LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the 1st quarter worth $207,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter worth $222,000. UBS Group AG lifted its position in Seacoast Banking Co. of Florida by 30.1% in the first quarter. UBS Group AG now owns 9,176 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 2,125 shares during the last quarter. United Capital Financial Advisers LLC purchased a new stake in Seacoast Banking Co. of Florida in the first quarter valued at $245,000. Finally, Profund Advisors LLC purchased a new stake in Seacoast Banking Co. of Florida in the first quarter valued at $247,000. 82.86% of the stock is owned by institutional investors and hedge funds.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

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