Seacoast Banking Co. of Florida (NASDAQ: SBCF – Get a rating) – Equity research analysts at Truist Financial raised their second-quarter 2022 EPS estimates for Seacoast Banking Co. of Florida in a report released Thursday, March 31. Truist Financial analyst Young now expects the financial services provider to post earnings of $0.51 per share for the quarter, up from its previous forecast of $0.50. Truist Financial also released estimates for Seacoast Banking Co. of Florida Q2 2023 earnings at $0.64 EPS, Q3 2023 earnings at $0.63 EPS and FY2023 earnings at $2.50. $EPS. Seacoast Banking Co. of Florida (NASDAQ: SBCF – Get a rating) last reported results on Thursday, January 27. The financial services provider reported earnings per share of $0.62 for the quarter, beating the consensus estimate of $0.53 by $0.09. Seacoast Banking Co. of Florida recorded a return on equity of 10.93% and a net margin of 35.05%. The company posted revenue of $91.00 million in the quarter, compared to $88.69 million expected by analysts. In the same period of the previous year, the company had earned earnings per share of $0.55.
Other equity research analysts have also recently released reports on the company. Keefe, Bruyette & Woods launched coverage on Florida’s Seacoast Banking Co. in a research note on Monday, January 17. They set a “market performance” rating for the company. Zacks Investment Research upgraded Florida’s Seacoast Banking Co. from a “hold” rating to a “sell” rating in a Thursday, Jan. 13, research memo. Ultimately, StockNews.com began covering Seacoast Banking Co. of Florida in a research note on Thursday. They issued a “hold” rating for the company. One investment analyst gave the stock a sell rating, three gave the company a hold rating and one gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.00.
The NASDAQ SBCF opened at $34.34 on Monday. The company’s fifty-day simple moving average is $35.97. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt ratio of 0.05. Seacoast Banking Co. of Florida has a fifty-two-week low of $29.28 and a fifty-two-week high of $39.31. The company has a market capitalization of $2.10 billion, a PE ratio of 15.75 and a beta of 1.21.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 31. Shareholders of record on Tuesday, March 15 received a dividend of $0.13. This represents a dividend of $0.52 on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Monday, March 14. Seacoast Banking Co. of Florida’s payout rate is 23.85%.
Separately, director Dennis S. Hudson III sold 8,000 shares of the company in a trade on Wednesday, February 2. The stock was sold at an average price of $36.35, for a total transaction of $290,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Additionally, CEO Charles M. Shaffer sold 10,500 shares of the company in a trade on Tuesday, February 1. The stock was sold at an average price of $36.35, for a total value of $381,675.00. Disclosure of this sale can be found here. 2.20% of the shares are currently held by insiders.
A number of large investors have recently changed their positions in the stock. Schrum Private Wealth Management LLC acquired a new stake in Seacoast Banking Co. of Florida during the 4th quarter for a value of approximately $207,000. Barclays PLC increased its stake in Seacoast Banking Co. of Florida by 68.0% during the fourth quarter. Barclays PLC now owns 118,780 shares of the financial services provider worth $4,204,000 after acquiring an additional 48,060 shares during the period. BlackRock Inc. increased its stake in Seacoast Banking Co. of Florida by 6.0% during the fourth quarter. BlackRock Inc. now owns 8,625,827 shares of the financial services provider worth $305,269,000 after acquiring an additional 489,024 shares during the period. Wells Fargo & Company MN increased its stake in Seacoast Banking Co. of Florida by 12.9% during the 4th quarter. Wells Fargo & Company MN now owns 90,799 shares of the financial services provider worth $3,212,000 after acquiring an additional 10,394 shares during the period. Finally, California State Teachers Retirement System increased its holdings in Seacoast Banking Co. of Florida by 0.5% during the 4th quarter. California State Teachers Retirement System now owns 75,294 shares of the financial services provider worth $2,665,000 after acquiring 408 additional shares during the period. 82.61% of the shares are held by institutional investors and hedge funds.
Company Profile Seacoast Banking Co. of Florida (Get a rating)
Seacoast Banking Corporation of Florida operates as a bank holding company for Seacoast National Bank which provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management and mortgages; and brokerage and annuity services.
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