Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) have been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $29.40.

Several equities research analysts recently issued reports on the stock. B. Riley reaffirmed a “buy” rating and set a $30.00 price target on shares of Seacoast Banking Corporation of Florida in a report on Friday, January 26th. BidaskClub lowered shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Sandler O’Neill raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Thursday, January 11th. FBR & Co reaffirmed a “buy” rating on shares of Seacoast Banking Corporation of Florida in a report on Friday, October 27th. Finally, Hovde Group reaffirmed a “hold” rating on shares of Seacoast Banking Corporation of Florida in a report on Friday, January 12th.

Institutional investors have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 5.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 135,984 shares of the financial services provider’s stock valued at $3,277,000 after purchasing an additional 7,424 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Seacoast Banking Corporation of Florida by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,321,937 shares of the financial services provider’s stock worth $31,859,000 after buying an additional 12,918 shares during the period. Northern Trust Corp boosted its position in Seacoast Banking Corporation of Florida by 24.8% during the 2nd quarter. Northern Trust Corp now owns 452,458 shares of the financial services provider’s stock worth $10,904,000 after buying an additional 89,810 shares during the period. Nationwide Fund Advisors boosted its position in Seacoast Banking Corporation of Florida by 9.9% during the 2nd quarter. Nationwide Fund Advisors now owns 53,880 shares of the financial services provider’s stock worth $1,299,000 after buying an additional 4,850 shares during the period. Finally, Jennison Associates LLC boosted its position in Seacoast Banking Corporation of Florida by 62.1% during the 3rd quarter. Jennison Associates LLC now owns 1,601,955 shares of the financial services provider’s stock worth $38,271,000 after buying an additional 613,947 shares during the period. 74.79% of the stock is currently owned by institutional investors.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) traded down $0.07 during mid-day trading on Wednesday, reaching $24.54. 138,946 shares of the company’s stock traded hands, compared to its average volume of 237,462. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.77. Seacoast Banking Corporation of Florida has a 52-week low of $20.58 and a 52-week high of $27.50. The company has a market cap of $1,070.00, a price-to-earnings ratio of 25.04 and a beta of 0.69.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 17.14% and a return on equity of 9.92%. The firm had revenue of $74.87 million for the quarter, compared to analyst estimates of $67.93 million. During the same period last year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 58.1% compared to the same quarter last year. equities research analysts forecast that Seacoast Banking Corporation of Florida will post 1.77 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was first reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://theolympiareport.com/2018/02/12/seacoast-banking-corporation-of-florida-sbcf-given-consensus-recommendation-of-buy-by-brokerages.html.

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.

Analyst Recommendations for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Receive News & Ratings for Seacoast Banking Corporation of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Corporation of Florida and related companies with MarketBeat.com's FREE daily email newsletter.