BidaskClub upgraded shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) from a sell rating to a hold rating in a research note published on Saturday.

A number of other research firms have also recently issued reports on SBCF. Zacks Investment Research upgraded Seacoast Banking Corporation of Florida from a hold rating to a buy rating and set a $29.00 target price for the company in a report on Saturday, December 30th. Guggenheim reiterated a hold rating and set a $28.00 target price on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, January 31st. Sandler O’Neill set a $27.00 target price on Seacoast Banking Corporation of Florida and gave the stock a hold rating in a report on Thursday, January 4th. Hovde Group set a $27.00 target price on Seacoast Banking Corporation of Florida and gave the stock a hold rating in a report on Wednesday, January 3rd. Finally, FBR & Co reiterated a buy rating on shares of Seacoast Banking Corporation of Florida in a report on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $29.00.

Shares of Seacoast Banking Corporation of Florida (SBCF) opened at $24.66 on Friday. The company has a market capitalization of $1,154.65, a price-to-earnings ratio of 25.16 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.82 and a current ratio of 0.83. Seacoast Banking Corporation of Florida has a 12 month low of $20.58 and a 12 month high of $27.50.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $74.87 million during the quarter, compared to analysts’ expectations of $67.93 million. Seacoast Banking Corporation of Florida had a return on equity of 9.92% and a net margin of 17.14%. The company’s revenue was up 58.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. analysts expect that Seacoast Banking Corporation of Florida will post 1.77 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Seacoast Banking Corporation of Florida by 0.4% in the 4th quarter. BlackRock Inc. now owns 3,372,798 shares of the financial services provider’s stock valued at $85,028,000 after acquiring an additional 14,076 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 25.0% in the 4th quarter. Jennison Associates LLC now owns 2,002,000 shares of the financial services provider’s stock valued at $50,470,000 after acquiring an additional 400,045 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Seacoast Banking Corporation of Florida by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,629,756 shares of the financial services provider’s stock valued at $39,277,000 after acquiring an additional 101,925 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Seacoast Banking Corporation of Florida by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,355,098 shares of the financial services provider’s stock valued at $32,374,000 after acquiring an additional 33,161 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Seacoast Banking Corporation of Florida by 26.0% in the 2nd quarter. State Street Corp now owns 1,212,356 shares of the financial services provider’s stock valued at $29,218,000 after acquiring an additional 250,322 shares in the last quarter. Institutional investors own 74.79% of the company’s stock.

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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)

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