B. Riley Comments on Seacoast Banking Corporation of Florida’s FY2018 Earnings (SBCF)

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) – Equities researchers at B. Riley raised their FY2018 earnings per share (EPS) estimates for Seacoast Banking Corporation of Florida in a note issued to investors on Thursday. B. Riley analyst S. Moss now anticipates that the financial services provider will earn $1.80 per share for the year, up from their previous estimate of $1.55. B. Riley also issued estimates for Seacoast Banking Corporation of Florida’s FY2019 earnings at $2.10 EPS.

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, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $57.10 million during 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%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Saturday, December 30th. Sandler O’Neill raised Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Thursday. FBR & Co reissued a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research note on Friday, October 27th. Hovde Group reissued a “hold” rating on shares of Seacoast Banking Corporation of Florida in a research note on Friday. Finally, BidaskClub lowered Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Seacoast Banking Corporation of Florida has an average rating of “Buy” and an average target price of $27.80.

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at $26.82 on Monday. The stock has a market capitalization of $1,167.00, a price-to-earnings ratio of 27.37 and a beta of 0.77. Seacoast Banking Corporation of Florida has a 52 week low of $20.58 and a 52 week high of $27.50. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.82 and a current ratio of 0.83.

In other Seacoast Banking Corporation of Florida news, CEO Dennis S. Hudson III sold 2,300 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $24.22, for a total transaction of $55,706.00. Following the sale, the chief executive officer now owns 19,247 shares in the company, valued at $466,162.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dennis S. Hudson III sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $24.39, for a total value of $195,120.00. Following the sale, 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. Company insiders own 2.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBCF. Jennison Associates LLC raised its position in Seacoast Banking Corporation of Florida by 62.1% during the third quarter. Jennison Associates LLC now owns 1,601,955 shares of the financial services provider’s stock valued at $38,271,000 after purchasing an additional 613,947 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Seacoast Banking Corporation of Florida by 44.4% during the second quarter. Lord Abbett & CO. LLC now owns 1,004,387 shares of the financial services provider’s stock valued at $24,206,000 after purchasing an additional 308,644 shares in the last quarter. State Street Corp increased its holdings in shares of Seacoast Banking Corporation of Florida by 26.0% in the second quarter. State Street Corp now owns 1,212,356 shares of the financial services provider’s stock worth $29,218,000 after buying an additional 250,322 shares during the period. Investment Counselors of Maryland LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 67.2% in the third quarter. Investment Counselors of Maryland LLC now owns 546,800 shares of the financial services provider’s stock worth $13,063,000 after buying an additional 219,747 shares during the period. Finally, Thrivent Financial For Lutherans increased its holdings in shares of Seacoast Banking Corporation of Florida by 254.6% in the second quarter. Thrivent Financial For Lutherans now owns 275,280 shares of the financial services provider’s stock worth $6,634,000 after buying an additional 197,640 shares during the period. 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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