Equities research analysts forecast that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will report sales of $72.30 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Seacoast Banking Co. of Florida’s earnings, with estimates ranging from $71.59 million to $73.00 million. Seacoast Banking Co. of Florida posted sales of $74.87 million during the same quarter last year, which suggests a negative year over year growth rate of 3.4%. The company is scheduled to report its next quarterly earnings report on Thursday, January 24th.

On average, analysts expect that Seacoast Banking Co. of Florida will report full-year sales of $261.29 million for the current year, with estimates ranging from $260.60 million to $262.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $309.40 million, with estimates ranging from $302.30 million to $313.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.07). Seacoast Banking Co. of Florida had a return on equity of 10.20% and a net margin of 22.30%. The firm had revenue of $63.85 million during the quarter, compared to analysts’ expectations of $65.27 million.

A number of analysts have issued reports on the company. ValuEngine raised Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Sandler O’Neill set a $31.00 target price on Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a research report on Saturday, July 28th. BidaskClub downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Zacks Investment Research downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 15th. Finally, B. Riley decreased their target price on Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $32.60.

NASDAQ:SBCF traded up $0.07 during trading hours on Thursday, reaching $26.14. The stock had a trading volume of 585,000 shares, compared to its average volume of 351,294. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. Seacoast Banking Co. of Florida has a 12-month low of $21.74 and a 12-month high of $34.95. The company has a market capitalization of $1.25 billion, a P/E ratio of 20.42 and a beta of 0.64.

Several hedge funds and other institutional investors have recently made changes to their positions in SBCF. Waddell & Reed Financial Inc. purchased a new position in shares of Seacoast Banking Co. of Florida in the second quarter valued at $18,169,000. Granite Investment Partners LLC bought a new stake in Seacoast Banking Co. of Florida during the third quarter valued at $15,052,000. Principal Financial Group Inc. bought a new stake in Seacoast Banking Co. of Florida during the first quarter valued at $9,519,000. BlackRock Inc. boosted its stake in Seacoast Banking Co. of Florida by 5.0% during the second quarter. BlackRock Inc. now owns 6,600,383 shares of the financial services provider’s stock valued at $208,440,000 after buying an additional 315,105 shares during the period. Finally, American Century Companies Inc. bought a new stake in Seacoast Banking Co. of Florida during the second quarter valued at $8,853,000. Institutional investors own 84.29% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

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

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