Seacoast Banking Corporation of Florida (SBCF) Expected to Post Q1 2018 Earnings of $0.40 Per Share

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – Investment analysts at B. Riley raised their Q1 2018 earnings per share (EPS) estimates for shares of Seacoast Banking Corporation of Florida in a research report issued to clients and investors on Thursday. B. Riley analyst S. Moss now anticipates that the financial services provider will post earnings per share of $0.40 for the quarter, up from their previous estimate of $0.34. B. Riley also issued estimates for Seacoast Banking Corporation of Florida’s Q2 2018 earnings at $0.44 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.49 EPS, Q1 2019 earnings at $0.46 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.55 EPS and Q4 2019 earnings at $0.57 EPS.

A number of other equities research analysts have also issued reports on SBCF. FBR & Co reaffirmed a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research report on Friday, October 27th. Zacks Investment Research lowered Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. BidaskClub lowered Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Hovde Group set a $27.00 target price on Seacoast Banking Corporation of Florida and gave the stock a “hold” rating in a research report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $27.00 target price on Seacoast Banking Corporation of Florida and gave the stock a “hold” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $27.80.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at $26.82 on Friday. The stock has a market capitalization of $1,170.00, a price-to-earnings ratio of 27.37 and a beta of 0.77. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.77. Seacoast Banking Corporation of Florida has a 52-week low of $20.58 and a 52-week high of $27.50.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results 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 company had revenue of $57.10 million for the quarter, compared to analyst estimates of $57.55 million. Seacoast Banking Corporation of Florida had a return on equity of 9.37% and a net margin of 18.48%. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share.

In other 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 transaction of $55,706.00. Following the transaction, the chief executive officer now owns 19,247 shares in the company, valued at $466,162.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $24.39, for a total value of $195,120.00. Following the transaction, the chief executive officer now owns 19,247 shares in the company, valued at approximately $469,434.33. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its holdings in shares of Seacoast Banking Corporation of Florida by 3,190.8% during the second quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the financial services provider’s stock valued at $103,000 after buying an additional 4,148 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Seacoast Banking Corporation of Florida during the third quarter valued at $203,000. SG Americas Securities LLC purchased a new position in Seacoast Banking Corporation of Florida in the third quarter valued at about $211,000. Legal & General Group Plc grew its stake in Seacoast Banking Corporation of Florida by 38.1% in the second quarter. Legal & General Group Plc now owns 10,015 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 2,761 shares in the last quarter. Finally, Virtu KCG Holdings LLC purchased a new position in Seacoast Banking Corporation of Florida in the second quarter valued at about $277,000. Institutional investors and hedge funds own 79.54% of the company’s stock.

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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.

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

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