B. Riley Analysts Reduce Earnings Estimates for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Seacoast Banking Co. of Florida (NASDAQ:SBCF) – Stock analysts at B. Riley dropped their Q1 2022 earnings per share (EPS) estimates for shares of Seacoast Banking Co. of Florida in a research report issued to clients and investors on Wednesday, January 12th. B. Riley analyst S. Moss now expects that the financial services provider will post earnings of $0.47 per share for the quarter, down from their previous forecast of $0.49. B. Riley has a “Neutral” rating and a $36.00 price objective on the stock. B. Riley also issued estimates for Seacoast Banking Co. of Florida’s FY2022 earnings at $2.20 EPS and FY2023 earnings at $2.55 EPS.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Wednesday, October 27th. The financial services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.09). The business had revenue of $90.35 million during the quarter, compared to the consensus estimate of $85.84 million. Seacoast Banking Co. of Florida had a return on equity of 10.83% and a net margin of 33.56%. During the same period in the prior year, the firm earned $0.50 earnings per share.

SBCF has been the topic of several other reports. Raymond James lifted their price target on Seacoast Banking Co. of Florida from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, November 1st. Zacks Investment Research cut Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Thursday.

Shares of NASDAQ SBCF opened at $39.15 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $35.84 and its two-hundred day moving average is $33.90. The company has a market cap of $2.28 billion, a P/E ratio of 18.73 and a beta of 1.29. Seacoast Banking Co. of Florida has a 12 month low of $29.28 and a 12 month high of $40.93.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Wednesday, December 15th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Tuesday, December 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 24.88%.

In other news, Chairman Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $37.32, for a total transaction of $298,560.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.20% of the company’s stock.

A number of large investors have recently made changes to their positions in SBCF. William Blair Investment Management LLC grew its position in Seacoast Banking Co. of Florida by 3,160.5% in the third quarter. William Blair Investment Management LLC now owns 1,228,145 shares of the financial services provider’s stock valued at $41,524,000 after acquiring an additional 1,190,478 shares during the period. Macquarie Group Ltd. grew its position in Seacoast Banking Co. of Florida by 58,873.4% in the second quarter. Macquarie Group Ltd. now owns 770,782 shares of the financial services provider’s stock valued at $26,323,000 after acquiring an additional 769,475 shares during the period. Ziegler Capital Management LLC grew its position in Seacoast Banking Co. of Florida by 187.3% in the third quarter. Ziegler Capital Management LLC now owns 352,902 shares of the financial services provider’s stock valued at $11,932,000 after acquiring an additional 230,068 shares during the period. Capital World Investors grew its position in Seacoast Banking Co. of Florida by 5.1% in the third quarter. Capital World Investors now owns 4,106,901 shares of the financial services provider’s stock valued at $138,854,000 after acquiring an additional 200,000 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Seacoast Banking Co. of Florida by 118.7% in the second quarter. JPMorgan Chase & Co. now owns 313,930 shares of the financial services provider’s stock valued at $10,721,000 after acquiring an additional 170,418 shares during the period. Hedge funds and other institutional investors own 81.64% of the company’s stock.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.

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

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