Keefe, Bruyette & Woods Trims Seacoast Banking Co. of Florida (NASDAQ:SBCF) Target Price to $26.00

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price objective decreased by analysts at Keefe, Bruyette & Woods from $28.00 to $26.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 7.79% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Raymond James increased their price target on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Hovde Group decreased their target price on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Finally, Truist Financial cut their price target on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus target price of $26.10.

Seacoast Banking Co. of Florida Trading Up 0.9 %

Shares of SBCF stock traded up $0.21 on Thursday, hitting $24.12. The company had a trading volume of 241,435 shares, compared to its average volume of 435,631. The firm has a market cap of $2.05 billion, a P/E ratio of 17.23 and a beta of 1.17. The stock’s 50-day moving average is $23.94 and its two-hundred day moving average is $24.48. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $29.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBCF. Vanguard Group Inc. lifted its holdings in shares of Seacoast Banking Co. of Florida by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider’s stock valued at $171,619,000 after purchasing an additional 206,002 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Seacoast Banking Co. of Florida by 31.7% in the third quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after purchasing an additional 1,106,724 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Seacoast Banking Co. of Florida by 11.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock valued at $84,814,000 after purchasing an additional 310,499 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Seacoast Banking Co. of Florida by 20.6% in the fourth quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock valued at $58,262,000 after purchasing an additional 349,147 shares in the last quarter. Finally, abrdn plc lifted its holdings in shares of Seacoast Banking Co. of Florida by 40.7% in the third quarter. abrdn plc now owns 1,212,652 shares of the financial services provider’s stock valued at $26,630,000 after purchasing an additional 350,726 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.