SunTrust Banks Weighs in on Seacoast Banking Corporation of Florida’s FY2017 Earnings (NASDAQ:SBCF)

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – Research analysts at SunTrust Banks boosted their FY2017 EPS estimates for shares of Seacoast Banking Corporation of Florida in a research report issued on Thursday. SunTrust Banks analyst M. Young now expects that the financial services provider will earn $1.26 per share for the year, up from their previous forecast of $1.25. SunTrust Banks also issued estimates for Seacoast Banking Corporation of Florida’s Q1 2018 earnings at $0.36 EPS.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $48.10 million for the quarter, compared to analysts’ expectations of $47.55 million. Seacoast Banking Corporation of Florida had a return on equity of 9.11% and a net margin of 16.95%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 earnings per share.

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Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, June 28th. Guggenheim initiated coverage on Seacoast Banking Corporation of Florida in a research note on Wednesday, March 15th. They set a “neutral” rating and a $25.00 price target for the company. FIG Partners upgraded Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research note on Friday, May 19th. Finally, BidaskClub cut Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.60.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at 24.68 on Monday. The stock’s 50 day moving average is $23.58 and its 200-day moving average is $23.21. Seacoast Banking Corporation of Florida has a 52 week low of $15.50 and a 52 week high of $25.88. The firm has a market cap of $958.55 million, a PE ratio of 28.60 and a beta of 0.78.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Globeflex Capital L P acquired a new position in Seacoast Banking Corporation of Florida during the first quarter valued at about $116,000. Raymond James Financial Services Advisors Inc. acquired a new position in Seacoast Banking Corporation of Florida during the first quarter valued at about $200,000. SG Americas Securities LLC acquired a new position in Seacoast Banking Corporation of Florida during the first quarter valued at about $209,000. Federated Investors Inc. PA boosted its position in Seacoast Banking Corporation of Florida by 6,961.3% in the fourth quarter. Federated Investors Inc. PA now owns 9,674 shares of the financial services provider’s stock valued at $213,000 after buying an additional 9,537 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Seacoast Banking Corporation of Florida during the fourth quarter valued at about $232,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

In other Seacoast Banking Corporation of Florida news, Director Roger Goldman sold 3,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $22.55, for a total value of $67,650.00. Following the completion of the transaction, the director now owns 20,072 shares in the company, valued at $452,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

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

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