Analysts expect Seacoast Banking Co. of Florida (NASDAQ:SBCF) to announce sales of $83.08 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Seacoast Banking Co. of Florida’s earnings, with the highest sales estimate coming in at $83.80 million and the lowest estimate coming in at $81.80 million. Seacoast Banking Co. of Florida posted sales of $82.28 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The company is expected to announce its next earnings results on Thursday, July 22nd.
According to Zacks, analysts expect that Seacoast Banking Co. of Florida will report full year sales of $334.44 million for the current fiscal year, with estimates ranging from $329.90 million to $343.20 million. For the next fiscal year, analysts expect that the company will post sales of $352.58 million, with estimates ranging from $315.90 million to $367.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Seacoast Banking Co. of Florida.
Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Wednesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.12. The company had revenue of $84.28 million during the quarter, compared to the consensus estimate of $82.36 million. Seacoast Banking Co. of Florida had a return on equity of 10.78% and a net margin of 31.84%.
A number of analysts have recently issued reports on the company. Raymond James increased their target price on Seacoast Banking Co. of Florida from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, April 26th. Zacks Investment Research upgraded Seacoast Banking Co. of Florida from a “hold” rating to a “strong-buy” rating and set a $43.00 target price for the company in a report on Thursday, April 29th. Finally, B. Riley increased their target price on Seacoast Banking Co. of Florida from $38.00 to $40.00 and gave the company a “buy” rating in a report on Monday, April 26th.
SBCF opened at $35.44 on Tuesday. The firm has a fifty day simple moving average of $36.92. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 17.54 and a beta of 1.35. Seacoast Banking Co. of Florida has a 12-month low of $17.00 and a 12-month high of $40.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.87.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, June 14th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP increased its stake in shares of Seacoast Banking Co. of Florida by 88.1% in the first quarter. Royce & Associates LP now owns 822,790 shares of the financial services provider’s stock worth $29,818,000 after acquiring an additional 385,340 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Seacoast Banking Co. of Florida by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,169,288 shares of the financial services provider’s stock worth $152,236,000 after buying an additional 415,206 shares during the last quarter. JPMorgan Chase & Co. increased its position in Seacoast Banking Co. of Florida by 167.8% during the fourth quarter. JPMorgan Chase & Co. now owns 211,169 shares of the financial services provider’s stock worth $6,218,000 after buying an additional 132,302 shares during the last quarter. Victory Capital Management Inc. increased its position in Seacoast Banking Co. of Florida by 6.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,346 shares of the financial services provider’s stock worth $422,000 after buying an additional 896 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new position in Seacoast Banking Co. of Florida during the first quarter worth $207,000. 85.40% of the stock is currently 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 mortgage services; and brokerage and annuity services.
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