Seacoast Banking Co. of Florida (NASDAQ:SBCF) Price Target Cut to $26.00 by Analysts at Keefe, Bruyette & Woods

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its target price trimmed by Keefe, Bruyette & Woods from $28.00 to $26.00 in a report released on Thursday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Raymond James upped their price objective on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an outperform rating in a report on Tuesday, January 30th. Truist Financial decreased their price objective on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a hold rating on the stock in a report on Monday, April 29th. Finally, Hovde Group decreased their price target on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an outperform rating on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Seacoast Banking Co. of Florida presently has a consensus rating of Hold and a consensus price target of $26.10.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ:SBCF traded up $0.21 on Thursday, hitting $24.12. The company had a trading volume of 241,435 shares, compared to its average volume of 435,631. Seacoast Banking Co. of Florida has a 1-year low of $17.93 and a 1-year high of $29.98. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 17.23 and a beta of 1.17. The stock has a 50 day moving average price of $23.94 and a 200 day moving average price of $24.48. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, June 13th. Seacoast Banking Co. of Florida’s payout ratio is presently 51.43%.

Institutional Trading of Seacoast Banking Co. of Florida

Several large investors have recently made changes to their positions in SBCF. GAMMA Investing LLC bought a new stake in Seacoast Banking Co. of Florida during the fourth quarter worth $25,000. First Horizon Advisors Inc. boosted its stake in Seacoast Banking Co. of Florida by 39.8% in the third quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock valued at $40,000 after buying an additional 520 shares in the last quarter. Good Life Advisors LLC bought a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at about $205,000. Janney Montgomery Scott LLC grew its position in Seacoast Banking Co. of Florida by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 460 shares during the last quarter. Finally, Xcel Wealth Management LLC acquired a new position in Seacoast Banking Co. of Florida during the fourth quarter worth about $238,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. 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 and family purposes.