$0.41 Earnings Per Share Expected for Seacoast Banking Co. of Florida (SBCF) This Quarter

Wall Street analysts expect that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will report $0.41 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Seacoast Banking Co. of Florida’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.43. Seacoast Banking Co. of Florida posted earnings per share of $0.35 in the same quarter last year, which indicates a positive year over year growth rate of 17.1%. The company is expected to issue its next quarterly earnings results after the market closes on Thursday, October 25th.

On average, analysts expect that Seacoast Banking Co. of Florida will report full-year earnings of $1.63 per share for the current year, with EPS estimates ranging from $1.57 to $1.71. For the next fiscal year, analysts anticipate that the company will post earnings of $2.09 per share, with EPS estimates ranging from $2.05 to $2.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). Seacoast Banking Co. of Florida had a net margin of 22.34% and a return on equity of 10.36%. The company had revenue of $62.98 million during the quarter, compared to analyst estimates of $64.78 million. During the same period in the prior year, the business posted $0.29 EPS. Seacoast Banking Co. of Florida’s revenue was up 15.3% compared to the same quarter last year.

A number of research firms recently issued reports on SBCF. Zacks Investment Research raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Friday, July 13th. BidaskClub cut shares of Seacoast Banking Co. of Florida from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 13th. ValuEngine raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Sandler O’Neill set a $31.00 target price on shares of Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a research note on Saturday, July 28th. Finally, B. Riley lowered their target price on shares of Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.20.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Wealth Management LLC acquired a new stake in Seacoast Banking Co. of Florida during the 2nd quarter worth $212,000. Amalgamated Bank acquired a new stake in Seacoast Banking Co. of Florida during the 2nd quarter worth $216,000. Aperio Group LLC acquired a new stake in Seacoast Banking Co. of Florida during the 2nd quarter worth $221,000. United Services Automobile Association acquired a new stake in Seacoast Banking Co. of Florida during the 2nd quarter worth $232,000. Finally, UBS Group AG boosted its stake in Seacoast Banking Co. of Florida by 30.1% during the 1st quarter. UBS Group AG now owns 9,176 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 2,125 shares during the last quarter. 84.16% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida stock traded down $0.49 during trading on Friday, reaching $26.87. The company had a trading volume of 221,787 shares, compared to its average volume of 204,749. Seacoast Banking Co. of Florida has a 1-year low of $22.42 and a 1-year high of $34.95. The stock has a market capitalization of $1.29 billion, a P/E ratio of 20.99 and a beta of 0.54. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 0.84.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

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