Brokerages Anticipate Seacoast Banking Corporation of Florida (SBCF) to Post $0.36 EPS

Equities analysts expect Seacoast Banking Corporation of Florida (NASDAQ:SBCF) to report earnings per share of $0.36 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Seacoast Banking Corporation of Florida’s earnings, with estimates ranging from $0.35 to $0.37. Seacoast Banking Corporation of Florida posted earnings per share of $0.30 during the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The company is scheduled to report its next quarterly earnings results on Wednesday, February 7th.

On average, analysts expect that Seacoast Banking Corporation of Florida will report full-year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $1.23 to $1.25. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.59 per share, with EPS estimates ranging from $1.55 to $1.62. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Seacoast Banking Corporation of Florida.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.35 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 the consensus estimate of $57.55 million. Seacoast Banking Corporation of Florida had a net margin of 18.48% and a return on equity of 9.78%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share.

Several research firms have recently commented on SBCF. FBR & Co reaffirmed a “buy” rating and issued a $27.00 price target on shares of Seacoast Banking Corporation of Florida in a report on Tuesday, September 5th. BidaskClub raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research lowered shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $24.67.

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In other Seacoast Banking Corporation of Florida news, Director Roger Goldman sold 2,200 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total transaction of $53,042.00. Following the completion of the transaction, the director now directly owns 20,072 shares of the company’s stock, valued at approximately $483,935.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE lifted 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 acquiring an additional 20 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Seacoast Banking Corporation of Florida by 3,190.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 4,148 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the 1st quarter worth approximately $209,000. Legal & General Group Plc lifted its stake in shares of Seacoast Banking Corporation of Florida by 38.1% in the 2nd quarter. Legal & General Group Plc now owns 10,015 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 2,761 shares during the period. Finally, Palisades Hudson Asset Management L.P. acquired a new stake in shares of Seacoast Banking Corporation of Florida in the 2nd quarter worth approximately $250,000. 77.51% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Company Profile

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.

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

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