Seacoast Banking Corporation of Florida (NASDAQ:SBCF) shares traded -5.99% lower at $26.86 on Wall Street last session.
As we calculate the median target price by taking the range between a high of $37.00 and a low of $34.00, we find $35.50. Given the previous closing price of $28.57, this indicates a potential upside of 24.26 percent. SBCF stock price is now -15.09% away from the 50-day moving average and -17.29% away from the 200-day moving average. The market capitalization of the company currently stands at $2.27B.
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Brokers who have rated the stock have averaged $35.54 as their price target over the next twelve months.
With the price target maintained at $36, B. Riley Securities recently Downgraded its rating from Buy to Neutral for Seacoast Banking Corporation of Florida (NASDAQ: SBCF). On July 02, 2020, B. Riley FBR Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock keeping its target price maintained at $25, while the B. Riley FBR previously rated the stock as ‘Buy’ on January 09, 2020.
In other news, Shaffer Charles M, Chairman, President & CEO sold 4,697 shares of the company’s stock on Feb 27. The stock was sold for $144,245 at an average price of $30.71. Upon completion of the transaction, the Chairman, President & CEO now directly owns 60,891 shares in the company, valued at $1.64 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 14, EVP, Chief Banking Officer Kleffel Juliette sold 8,500 shares of the business’s stock. A total of $270,980 was realized by selling the stock at an average price of $31.88. This leaves the insider owning 38,354 shares of the company worth $1.03 million. Insiders disposed of 19,974 shares of company stock worth roughly $0.54 million over the past 1 year. A total of 0.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SBCF stock. A new stake in Seacoast Banking Corporation of Florida shares was purchased by FISHER ASSET MANAGEMENT, LLC during the first quarter worth $15,276,000. TERRAPIN ASSET MANAGEMENT, LLC invested $6,019,000 in shares of SBCF during the first quarter. In the first quarter, MALTESE CAPITAL MANAGEMENT LLC acquired a new stake in Seacoast Banking Corporation of Florida valued at approximately $3,358,000. SAMSON ROCK CAPITAL LLP acquired a new stake in SBCF for approximately $2,297,000. BALDWIN BROTHERS LLC/MA purchased a new stake in SBCF valued at around $2,128,000 in the second quarter. In total, there are 319 active investors with 91.10% ownership of the company’s stock.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) opened at $28.25 on Thursday. During the past 12 months, Seacoast Banking Corporation of Florida has had a low of $28.02 and a high of $36.92. The fifty day moving average price for SBCF is $31.64 and a two-hundred day moving average price translates $32.48 for the stock.
The latest earnings results from Seacoast Banking Corporation of Florida (NASDAQ: SBCF) was released for Dec, 2022. According to the Banks – Regional Company, earnings per share came in at $0.34, beating analysts’ expectations of $0.15 by 0.19. This compares to $0.62 EPS in the same period last year. The net profit margin was 28.00% and return on equity was 7.60% for SBCF. The company reported revenue of $127.11 million for the quarter, compared to $73.94 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 71.9 percent. For the current quarter, analysts expect SBCF to generate $157.35M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/31/2023. Investors who held shares on 03/15/2023 were paid a $0.17 dividend. On an annualized basis, this represents a $0.68 dividend and a 2.53% percent yield. There was an ex-dividend date of 03/14/2023 for this dividend. In terms of dividend payout ratio, SBCF is presently at 30.30%.
Seacoast Banking Corporation of Florida(SBCF) Company Profile
Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; and brokerage and annuity services. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal or family purposes. As of December 31, 2021, it had 54 branch and commercial lending offices. The company was founded in 1926 and is headquartered in Stuart, Florida.
