Seacoast Banking Co. of Florida (NASDAQ:SBCF) Announces Quarterly Earnings Results

Seacoast Banking Co. of Florida (NASDAQ:SBCF) announced its quarterly earnings data on Thursday. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36, Briefing.com reports. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The firm had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Seacoast Banking Co. of Florida’s revenue for the quarter was up 5.5% compared to the same quarter last year.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock traded down $0.74 on Friday, reaching $26.33. The company’s stock had a trading volume of 367,323 shares, compared to its average volume of 410,505. Seacoast Banking Co. of Florida has a 52 week low of $19.67 and a 52 week high of $29.98. The company has a market capitalization of $2.24 billion, a P/E ratio of 19.06 and a beta of 1.07. The firm has a fifty day moving average of $26.75 and a two-hundred day moving average of $25.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 51.80%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Hovde Group lowered Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and upped their target price for the company from $29.00 to $31.00 in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Truist Financial upped their target price on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $29.88.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.