Guggenheim assumed coverage on shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) in a research note released on Wednesday. The firm issued a neutral rating and a $25.00 price objective on the financial services provider’s stock.

Several other equities research analysts also recently commented on SBCF. Zacks Investment Research downgraded Seacoast Banking Co. of Florida from a buy rating to a hold rating in a report on Saturday, February 18th. Citigroup Inc assumed coverage on Seacoast Banking Co. of Florida in a report on Wednesday, November 30th. They set an outperform rating and a $22.00 price objective for the company. FBR & Co restated a buy rating on shares of Seacoast Banking Co. of Florida in a report on Thursday, February 2nd. SunTrust Banks, Inc. upgraded Seacoast Banking Co. of Florida from a hold rating to a buy rating in a report on Monday, February 13th. Finally, Raymond James Financial, Inc. assumed coverage on Seacoast Banking Co. of Florida in a report on Wednesday, November 30th. They set an outperform rating for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $20.18.

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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) traded down 0.04% during midday trading on Wednesday, reaching $23.56. The company had a trading volume of 67,209 shares. Seacoast Banking Co. of Florida has a 12-month low of $15.21 and a 12-month high of $25.13. The firm has a market capitalization of $885.93 million, a price-to-earnings ratio of 30.21 and a beta of 0.83. The stock’s 50 day moving average is $23.35 and its 200 day moving average is $20.04.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Wednesday, February 1st. The financial services provider reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. Seacoast Banking Co. of Florida had a return on equity of 8.82% and a net margin of 15.29%. During the same quarter in the prior year, the business earned $0.19 earnings per share. Equities research analysts expect that Seacoast Banking Co. of Florida will post $1.23 earnings per share for the current year.

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In related news, Director Julie H. Daum bought 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The shares were bought at an average price of $22.25 per share, with a total value of $100,125.00. Following the completion of the transaction, the director now directly owns 27,419 shares in the company, valued at $610,072.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Robert Goldstein sold 6,210,000 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $22.25, for a total value of $138,172,500.00. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SBCF. Federated Investors Inc. PA boosted its position in shares of Seacoast Banking Co. of Florida by 6,961.3% in the fourth quarter. Federated Investors Inc. PA now owns 9,674 shares of the financial services provider’s stock valued at $213,000 after buying an additional 9,537 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at about $232,000. PNC Financial Services Group Inc. boosted its position in shares of Seacoast Banking Co. of Florida by 8.0% in the third quarter. PNC Financial Services Group Inc. now owns 11,860 shares of the financial services provider’s stock valued at $190,000 after buying an additional 882 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at about $293,000. Finally, Harbor Advisors LLC bought a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at about $293,000. 53.45% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association. 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.

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