Positive Media Coverage Extremely Likely to Affect Seacoast Banking Corporation of Florida (SBCF) Share Price
Press coverage about Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has trended positive this week, according to Alpha One. Alpha One, a unit of Accern, identifies positive and negative media coverage by reviewing more than 20 million news and blog sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Seacoast Banking Corporation of Florida earned a news impact score of 0.31 on Alpha One’s scale. Alpha One also assigned press coverage about the financial services provider an impact score of 100 out of 100, indicating that recent media coverage is extremely likely to have an impact on the stock’s share price in the near term.
SBCF has been the subject of a number of recent research reports. Zacks Investment Research cut Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research report on Saturday, February 18th. Guggenheim initiated coverage on Seacoast Banking Corporation of Florida in a research report on Wednesday, March 15th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, FIG Partners raised Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research report on Friday, May 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $23.00.
Shares of Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at 24.55 on Friday. Seacoast Banking Corporation of Florida has a 12-month low of $15.21 and a 12-month high of $25.88. The stock has a 50 day moving average price of $23.63 and a 200 day moving average price of $23.03. The firm has a market capitalization of $953.50 million, a PE ratio of 28.45 and a beta of 0.75.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 9.11% and a net margin of 16.95%. The business had revenue of $48.10 million during the quarter, compared to the consensus estimate of $47.55 million. During the same period last year, the company earned $0.19 earnings per share. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. Analysts predict that Seacoast Banking Corporation of Florida will post $1.24 EPS for the current fiscal year.
In related news, Director Roger Goldman sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $22.55, for a total value of $67,650.00. Following the completion of the transaction, the director now directly owns 20,072 shares of the company’s stock, valued at approximately $452,623.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.
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.
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