Seacoast Banking Co. of Florida (NASDAQ:SBCF) Hits New 12-Month Low – Here’s Why

Seacoast Banking Co. of Florida (NASDAQ:SBCF) hit a new 52-week low during trading on Wednesday . The stock traded as low as $21.48 and last traded at $23.84, with a volume of 434314 shares changing hands. The stock had previously closed at $22.24.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBCF. Stephens raised their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. StockNews.com downgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Seacoast Banking Co. of Florida has an average rating of “Hold” and a consensus target price of $30.00.

Seacoast Banking Co. of Florida Trading Up 6.2 %

The company’s fifty day moving average is $26.95 and its 200-day moving average is $27.49. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.02 billion, a P/E ratio of 16.52 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. As a group, sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.05%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 50.35%.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

A number of institutional investors and hedge funds have recently bought and sold shares of SBCF. GAMMA Investing LLC increased its position in shares of Seacoast Banking Co. of Florida by 3,451.2% during the first quarter. GAMMA Investing LLC now owns 42,969 shares of the financial services provider’s stock valued at $1,106,000 after purchasing an additional 41,759 shares during the period. Moody National Bank Trust Division raised its stake in shares of Seacoast Banking Co. of Florida by 9.8% in the first quarter. Moody National Bank Trust Division now owns 41,060 shares of the financial services provider’s stock valued at $1,056,000 after acquiring an additional 3,672 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Seacoast Banking Co. of Florida in the fourth quarter worth $4,866,000. Mackenzie Financial Corp acquired a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter worth approximately $637,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Seacoast Banking Co. of Florida by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 175,497 shares of the financial services provider’s stock valued at $4,831,000 after acquiring an additional 26,631 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.