$0.50 Earnings Per Share Expected for Seacoast Banking Co. of Florida (NASDAQ:SBCF) This Quarter

Analysts expect Seacoast Banking Co. of Florida (NASDAQ:SBCF) to announce earnings per share of $0.50 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Seacoast Banking Co. of Florida’s earnings. The highest EPS estimate is $0.51 and the lowest is $0.50. Seacoast Banking Co. of Florida posted earnings per share of $0.47 in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.4%. The business is expected to issue its next quarterly earnings report on Thursday, January 23rd.

On average, analysts expect that Seacoast Banking Co. of Florida will report full-year earnings of $1.88 per share for the current year. For the next year, analysts forecast that the business will post earnings of $2.01 per share, with EPS estimates ranging from $1.98 to $2.05. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Seacoast Banking Co. of Florida had a net margin of 25.69% and a return on equity of 11.13%. The business had revenue of $74.89 million for the quarter, compared to analysts’ expectations of $74.73 million. During the same period in the previous year, the business earned $0.37 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis.

Several research firms have weighed in on SBCF. Zacks Investment Research cut Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. ValuEngine raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. BidaskClub raised Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, B. Riley cut Seacoast Banking Co. of Florida from a “buy” rating to a “neutral” rating and lifted their target price for the company from $29.00 to $30.00 in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.63.

Seacoast Banking Co. of Florida stock traded down $0.09 during midday trading on Thursday, hitting $29.38. The company’s stock had a trading volume of 203,400 shares, compared to its average volume of 220,123. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.13. Seacoast Banking Co. of Florida has a 12 month low of $22.35 and a 12 month high of $29.93. The stock’s 50-day moving average price is $26.31 and its 200-day moving average price is $25.53. The company has a market capitalization of $1.52 billion, a PE ratio of 18.14 and a beta of 0.98.

Several hedge funds and other institutional investors have recently made changes to their positions in SBCF. Royal Bank of Canada grew its stake in shares of Seacoast Banking Co. of Florida by 226.8% in the 2nd quarter. Royal Bank of Canada now owns 1,523 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,057 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at approximately $100,000. Russell Investments Group Ltd. bought a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at approximately $161,000. Bank of Montreal Can grew its stake in shares of Seacoast Banking Co. of Florida by 116.5% in the 2nd quarter. Bank of Montreal Can now owns 7,873 shares of the financial services provider’s stock valued at $200,000 after buying an additional 4,237 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at approximately $238,000. 83.51% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida 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. The company offers commercial and retail banking, wealth management, and treasury management services, as well as home mortgage products; and brokerage and annuity services.

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Earnings History and Estimates for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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