Seacoast Banking Corporation of Florida (NASDAQ:SBCF) - Equities researchers at SunTrust Banks reduced their FY2017 EPS estimates for Seacoast Banking Corporation of Florida in a research note issued on Thursday. SunTrust Banks analyst M. Young now anticipates that the financial services provider will earn $1.23 per share for the year, down from their previous forecast of $1.26.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, June 28th. BidaskClub upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, FIG Partners upgraded shares of Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research report on Friday, May 19th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Seacoast Banking Corporation of Florida has an average rating of “Buy” and an average price target of $22.60.
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Seacoast Banking Corporation of Florida (SBCF) traded down 0.92% during mid-day trading on Monday, hitting $23.76. 13,145 shares of the stock traded hands. The stock has a market capitalization of $1.02 billion, a PE ratio of 26.43 and a beta of 0.77. Seacoast Banking Corporation of Florida has a one year low of $15.85 and a one year high of $25.88. The company has a 50 day moving average price of $23.94 and a 200-day moving average price of $23.53.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Seacoast Banking Corporation of Florida had a net margin of 17.09% and a return on equity of 9.80%. The firm had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $53.90 million. During the same period in the prior year, the firm earned $0.24 earnings per share. The company’s quarterly revenue was up 25.2% compared to the same quarter last year.
In related news, Director Roger Goldman sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $22.55, for a total transaction of $67,650.00. Following the completion of the transaction, the director now directly owns 20,072 shares in the company, valued at approximately $452,623.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in Seacoast Banking Corporation of Florida by 0.5% in the second quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock worth $100,000 after buying an additional 20 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Seacoast Banking Corporation of Florida by 3,190.8% in the second quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the financial services provider’s stock worth $103,000 after buying an additional 4,148 shares during the last quarter. Globeflex Capital L P acquired a new stake in Seacoast Banking Corporation of Florida during the first quarter worth $116,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Seacoast Banking Corporation of Florida during the first quarter worth $200,000. Finally, SG Americas Securities LLC acquired a new stake in Seacoast Banking Corporation of Florida during the first quarter worth $209,000. Institutional investors and hedge funds own 71.74% 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.
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