$52.60 Million in Sales Expected for Seacoast Banking Corporation of Florida (SBCF) This Quarter

Equities analysts expect that Seacoast Banking Corporation of Florida (NASDAQ:SBCF) will post $52.60 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Seacoast Banking Corporation of Florida’s earnings. The highest sales estimate is $53.90 million and the lowest is $50.00 million. The firm is scheduled to issue its next earnings report on Wednesday, July 26th.

On average, analysts expect that Seacoast Banking Corporation of Florida will report full-year sales of $52.60 million for the current financial year, with estimates ranging from $203.70 million to $251.76 million. For the next fiscal year, analysts expect that the firm will report sales of $257.66 million per share, with estimates ranging from $245.20 million to $268.10 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Seacoast Banking Corporation of Florida.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 9.11% and a net margin of 16.95%. The firm had revenue of $48.10 million for the quarter, compared to analyst estimates of $47.55 million. During the same period in the prior year, the firm posted $0.19 EPS. The business’s revenue was up 25.3% compared to the same quarter last year.

Several equities analysts have issued reports on the company. BidaskClub raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, June 28th. FIG Partners raised Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a report on Friday, May 19th. Finally, Guggenheim assumed coverage on Seacoast Banking Corporation of Florida in a report on Wednesday, March 15th. They set a “neutral” rating and a $25.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.60.

Shares of Seacoast Banking Corporation of Florida (SBCF) traded down 1.97% during mid-day trading on Friday, reaching $23.87. The company’s stock had a trading volume of 209,544 shares. The stock has a market capitalization of $927.09 million, a price-to-earnings ratio of 27.66 and a beta of 0.78. The company’s 50-day moving average is $23.58 and its 200-day moving average is $23.21. Seacoast Banking Corporation of Florida has a 52 week low of $15.85 and a 52 week high of $25.88.

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In other news, Director Roger Goldman sold 3,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $22.55, for a total transaction of $67,650.00. Following the completion of the sale, the director now owns 20,072 shares in the company, valued at $452,623.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in SBCF. Goldman Sachs Group Inc. increased its stake in shares of Seacoast Banking Corporation of Florida by 35.3% in the first quarter. Goldman Sachs Group Inc. now owns 31,199 shares of the financial services provider’s stock valued at $749,000 after buying an additional 8,145 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at $4,300,000. Credit Suisse AG increased its stake in shares of Seacoast Banking Corporation of Florida by 17.3% in the first quarter. Credit Suisse AG now owns 85,402 shares of the financial services provider’s stock valued at $2,048,000 after buying an additional 12,608 shares during the period. AQR Capital Management LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 63.9% in the first quarter. AQR Capital Management LLC now owns 87,035 shares of the financial services provider’s stock valued at $2,087,000 after buying an additional 33,919 shares during the period. Finally, State Street Corp increased its stake in shares of Seacoast Banking Corporation of Florida by 97.4% in the first quarter. State Street Corp now owns 962,034 shares of the financial services provider’s stock valued at $23,071,000 after buying an additional 474,704 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

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.

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

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