Seacoast Banking Co. of Florida (NASDAQ:SBCF) Hits New 52-Week Low – What’s Next?

Seacoast Banking Co. of Florida (NASDAQ:SBCF)’s share price hit a new 52-week low on Thursday . The stock traded as low as $20.00 and last traded at $24.27, with a volume of 204 shares. The stock had previously closed at $25.80.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SBCF. Raymond James reissued an “outperform” rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Stephens increased their target price 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. Finally, StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. of Florida Stock Down 7.7 %

The firm’s fifty day moving average price is $27.43 and its two-hundred day moving average price is $27.66. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 16.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data 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%. Sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.18 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 3.02%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 50.35%.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in Seacoast Banking Co. of Florida by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 849,811 shares of the financial services provider’s stock worth $22,647,000 after purchasing an additional 56,897 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Seacoast Banking Co. of Florida by 14.6% in the 3rd quarter. Citigroup Inc. now owns 157,927 shares of the financial services provider’s stock worth $4,209,000 after buying an additional 20,122 shares during the last quarter. FMR LLC grew its position in Seacoast Banking Co. of Florida by 57.3% during the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,960 shares during the period. BNP Paribas Financial Markets increased its holdings in Seacoast Banking Co. of Florida by 97.8% during the third quarter. BNP Paribas Financial Markets now owns 34,238 shares of the financial services provider’s stock worth $912,000 after buying an additional 16,930 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Seacoast Banking Co. of Florida during the third quarter worth about $230,000. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Co. of Florida Company Profile

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.