Seacoast Banking Corporation of Florida (SBCF) Rating Reiterated by FBR & Co

Seacoast Banking Corporation of Florida (NASDAQ:SBCF)‘s stock had its “buy” rating reiterated by research analysts at FBR & Co in a research report issued to clients and investors on Friday, October 27th. FBR & Co also issued estimates for Seacoast Banking Corporation of Florida’s Q1 2019 earnings at $0.40 EPS, Q2 2019 earnings at $0.45 EPS and Q3 2019 earnings at $0.47 EPS.

The analysts wrote, “We are initiating coverage of Xenia Hotels & Resorts, Inc. (XHR) with a Neutral rating and a $23 price target. Xenia is a predominantly upper-upscale and luxury lodging REIT with ownership positions in 39 hotels (11,533 rooms) broadly diversified throughout the U.S. The REIT was formerly the lodging division of Inland American Real Estate, a non-traded REIT, prior to becoming internally advised and publicly traded (via a 1:8 spin-off from Inland American, a.k.a. InvenTrust) in 1Q15. Xenia management has been meaningfully upgrading the portfolio since the spin-off, despite the lateness of the lodging cycle and generally moderating RevPAR growth. We are very constructive on the XHR story. However, the shares have increased meaningfully in the last two months and, now trading at ~13.4x our 2017E EBITDA estimate, in our view, are approaching fair value.””

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. BidaskClub upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $24.67.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) traded up $0.15 on Friday, hitting $24.17. The stock had a trading volume of 287,700 shares, compared to its average volume of 284,381. Seacoast Banking Corporation of Florida has a 1 year low of $17.69 and a 1 year high of $25.88. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market cap of $1,045.16, a PE ratio of 20.02 and a beta of 0.77.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $57.10 million during the quarter, compared to analysts’ expectations of $57.55 million. Seacoast Banking Corporation of Florida had a return on equity of 9.78% and a net margin of 18.48%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. research analysts expect that Seacoast Banking Corporation of Florida will post 1.24 EPS for the current fiscal year.

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In other Seacoast Banking Corporation of Florida news, CEO Dennis S. Hudson III sold 2,300 shares of Seacoast Banking Corporation of Florida stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $24.22, for a total value of $55,706.00. Following the completion of the sale, the chief executive officer now owns 19,247 shares of the company’s stock, valued at approximately $466,162.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $24.39, for a total value of $195,120.00. Following the completion of the sale, the chief executive officer now directly owns 19,247 shares of the company’s stock, valued at approximately $469,434.33. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in shares of Seacoast Banking Corporation of Florida by 0.5% in the 2nd quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock worth $100,000 after buying an additional 20 shares during the last quarter. Alpine Woods Capital Investors LLC lifted its position in Seacoast Banking Corporation of Florida by 7.7% during the second quarter. Alpine Woods Capital Investors LLC now owns 14,000 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 1,000 shares in the last quarter. Teachers Advisors LLC lifted its position in Seacoast Banking Corporation of Florida by 1.3% during the second quarter. Teachers Advisors LLC now owns 85,014 shares of the financial services provider’s stock valued at $2,049,000 after purchasing an additional 1,079 shares in the last quarter. American International Group Inc. lifted its position in Seacoast Banking Corporation of Florida by 7.2% during the first quarter. American International Group Inc. now owns 18,252 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 1,220 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Seacoast Banking Corporation of Florida by 5.1% during the first quarter. Wells Fargo & Company MN now owns 28,202 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 1,374 shares in the last quarter. Hedge funds and other institutional investors own 77.52% 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.

Analyst Recommendations for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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