Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – Analysts at SunTrust Banks lifted their Q4 2017 earnings per share (EPS) estimates for Seacoast Banking Corporation of Florida in a note issued to investors on Sunday. SunTrust Banks analyst M. Young now expects that the financial services provider will earn $0.37 per share for the quarter, up from their prior forecast of $0.35. SunTrust Banks also issued estimates for Seacoast Banking Corporation of Florida’s Q2 2018 earnings at $0.38 EPS, FY2018 earnings at $1.58 EPS and FY2019 earnings at $1.81 EPS.

A number of other research analysts have also commented on SBCF. FBR & Co reiterated a “buy” rating and issued a $27.00 price target on shares of Seacoast Banking Corporation of Florida in a research note on Tuesday, September 5th. BidaskClub lowered shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research lowered shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $24.67.

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Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at 24.63 on Tuesday. The company has a 50 day moving average of $23.73 and a 200 day moving average of $23.61. Seacoast Banking Corporation of Florida has a 1-year low of $16.82 and a 1-year high of $25.88. The company has a market cap of $1.06 billion, a PE ratio of 27.40 and a beta of 0.76.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 18.48% and a return on equity of 9.78%. The business had revenue of $57.10 million during the quarter, compared to analysts’ expectations of $57.55 million. During the same quarter last year, the company earned $0.28 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. grew its stake in Seacoast Banking Corporation of Florida by 39.5% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 91,800 shares of the financial services provider’s stock valued at $2,193,000 after buying an additional 26,000 shares during the last quarter. Nationwide Fund Advisors grew its stake in Seacoast Banking Corporation of Florida by 4.9% in the 3rd quarter. Nationwide Fund Advisors now owns 56,538 shares of the financial services provider’s stock valued at $1,351,000 after buying an additional 2,658 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Seacoast Banking Corporation of Florida in the 3rd quarter valued at about $371,000. Lord Abbett & CO. LLC grew its stake in Seacoast Banking Corporation of Florida by 44.4% in the 2nd 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. Finally, Beaton Management Co. Inc. acquired a new position in Seacoast Banking Corporation of Florida in the 2nd quarter valued at about $463,000. Institutional investors and hedge funds own 77.51% of the company’s stock.

In related news, Director Roger Goldman sold 2,200 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total value of $53,042.00. Following the transaction, the director now owns 20,072 shares in the company, valued at approximately $483,935.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

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.

Earnings History and Estimates for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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