Seacoast Banking Co. of Florida (NASDAQ:SBCF) Expected to Announce Earnings of $0.37 Per Share

Analysts expect that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will report earnings per share of $0.37 for the current quarter, according to Zacks. Five analysts have made estimates for Seacoast Banking Co. of Florida’s earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.29. Seacoast Banking Co. of Florida posted earnings per share of $0.50 in the same quarter last year, which would indicate a negative year-over-year growth rate of 26%. The business is scheduled to announce its next earnings results on Thursday, July 23rd.

On average, analysts expect that Seacoast Banking Co. of Florida will report full-year earnings of $1.12 per share for the current year, with EPS estimates ranging from $1.11 to $1.14. For the next financial year, analysts expect that the firm will post earnings of $1.49 per share, with EPS estimates ranging from $1.10 to $1.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Seacoast Banking Co. of Florida.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.37). Seacoast Banking Co. of Florida had a return on equity of 8.87% and a net margin of 21.99%. The business had revenue of $77.87 million for the quarter, compared to analyst estimates of $74.48 million.

Several brokerages have recently commented on SBCF. Zacks Investment Research lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. BidaskClub lowered shares of Seacoast Banking Co. of Florida from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 16th. B. Riley increased their price target on shares of Seacoast Banking Co. of Florida from $21.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, June 4th. Finally, Raymond James restated an “outperform” rating and set a $27.00 price target (up previously from $20.00) on shares of Seacoast Banking Co. of Florida in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Seacoast Banking Co. of Florida currently has an average rating of “Hold” and a consensus target price of $28.67.

Shares of SBCF traded up $1.07 during mid-day trading on Tuesday, hitting $19.83. 575,400 shares of the company’s stock were exchanged, compared to its average volume of 281,706. The firm has a fifty day moving average of $20.98 and a two-hundred day moving average of $23.75. Seacoast Banking Co. of Florida has a twelve month low of $13.30 and a twelve month high of $31.42. The stock has a market cap of $988.78 million, a price-to-earnings ratio of 13.49 and a beta of 1.28. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.34.

In other news, Director Robert J. Lipstein bought 6,000 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average cost of $20.87 per share, for a total transaction of $125,220.00. Following the purchase, the director now owns 2,312 shares of the company’s stock, valued at approximately $48,251.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Mason Street Advisors LLC grew its position in Seacoast Banking Co. of Florida by 2.6% in the 4th quarter. Mason Street Advisors LLC now owns 17,932 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 458 shares during the last quarter. Amalgamated Bank grew its position in Seacoast Banking Co. of Florida by 8.5% in the 4th quarter. Amalgamated Bank now owns 8,782 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 688 shares during the last quarter. Nuveen Asset Management LLC grew its position in Seacoast Banking Co. of Florida by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 189,297 shares of the financial services provider’s stock worth $5,787,000 after purchasing an additional 689 shares during the last quarter. Legal & General Group Plc grew its position in Seacoast Banking Co. of Florida by 0.5% in the 1st quarter. Legal & General Group Plc now owns 131,594 shares of the financial services provider’s stock worth $2,409,000 after purchasing an additional 712 shares during the last quarter. Finally, Assetmark Inc. acquired a new stake in Seacoast Banking Co. of Florida in the 4th quarter worth $37,000. Institutional investors and hedge funds own 83.43% of the company’s stock.

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 retail and commercial customers in Florida. The company offers commercial and retail banking, wealth management, and treasury management services, as well as home mortgage products; and brokerage and annuity services.

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

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