Analysts Anticipate Seacoast Banking Co. of Florida (NASDAQ:SBCF) Will Announce Quarterly Sales of $75.36 Million

Wall Street analysts expect Seacoast Banking Co. of Florida (NASDAQ:SBCF) to post $75.36 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Seacoast Banking Co. of Florida’s earnings. The highest sales estimate is $76.90 million and the lowest is $74.40 million. Seacoast Banking Co. of Florida posted sales of $63.85 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 18%. The business is expected to report its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Seacoast Banking Co. of Florida will report full year sales of $299.57 million for the current financial year, with estimates ranging from $297.40 million to $304.00 million. For the next year, analysts anticipate that the company will post sales of $316.30 million, with estimates ranging from $311.60 million to $322.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $73.70 million during the quarter, compared to the consensus estimate of $75.44 million. Seacoast Banking Co. of Florida had a return on equity of 10.69% and a net margin of 24.05%. The company’s revenue was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. ValuEngine downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. BidaskClub downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Hovde Group upgraded Seacoast Banking Co. of Florida from an “underperform” rating to a “market perform” rating in a research note on Tuesday, May 14th. Finally, Raymond James set a $29.00 price target on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research note on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $29.63.

NASDAQ:SBCF traded down $0.24 during mid-day trading on Friday, reaching $23.94. The stock had a trading volume of 195,505 shares, compared to its average volume of 222,789. The stock has a market cap of $1.29 billion, a P/E ratio of 14.78 and a beta of 0.91. Seacoast Banking Co. of Florida has a 1-year low of $21.74 and a 1-year high of $31.94. The business has a 50 day simple moving average of $25.68. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.23.

In other Seacoast Banking Co. of Florida news, EVP Juliette Kleffel sold 4,433 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $24.13, for a total value of $106,968.29. Following the completion of the transaction, the executive vice president now directly owns 4,730 shares in the company, valued at $114,134.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Pembroke Management LTD boosted its stake in Seacoast Banking Co. of Florida by 24.9% in the first quarter. Pembroke Management LTD now owns 293,400 shares of the financial services provider’s stock valued at $7,731,000 after acquiring an additional 58,450 shares during the period. Bank of Montreal Can raised its holdings in shares of Seacoast Banking Co. of Florida by 16.5% during the first quarter. Bank of Montreal Can now owns 3,636 shares of the financial services provider’s stock valued at $96,000 after buying an additional 516 shares during the last quarter. BB&T Corp raised its holdings in shares of Seacoast Banking Co. of Florida by 21.9% during the first quarter. BB&T Corp now owns 18,437 shares of the financial services provider’s stock valued at $486,000 after buying an additional 3,316 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Seacoast Banking Co. of Florida by 8.8% during the fourth quarter. Legal & General Group Plc now owns 109,209 shares of the financial services provider’s stock valued at $2,823,000 after buying an additional 8,871 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Seacoast Banking Co. of Florida by 9.2% during the fourth quarter. Bank of America Corp DE now owns 301,123 shares of the financial services provider’s stock valued at $7,836,000 after buying an additional 25,276 shares during the last quarter. Institutional investors own 83.55% of the company’s stock.

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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