Third Quarter 2022 EPS Estimates for Seacoast Banking Co. of Florida (NASDAQ:SBCF) Lowered by B. Riley

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Seacoast Banking Co. of Florida (NASDAQ: SBCFGet a rating) – B. Riley Research analysts cut their third-quarter 2022 EPS estimates for Seacoast Banking Co. of Florida in a research report released Thursday, August 4. B. Riley analyst S. Moss now expects the financial services provider to earn $0.62 per share for the quarter, down from its previous estimate of $0.71. The consensus estimate for Seacoast Banking Co. of Florida’s current annual earnings is $2.15 per share. B. Riley also released estimates for Seacoast Banking Co. of Florida Q4 2022 earnings at $0.35 EPS, Q1 2023 earnings at $0.65 EPS, Q2 2023 earnings at $0.67 EPS, Q3 2023 earnings at $0.61 EPS, Q4 2023 earnings at $0.57 EPS, and FY2023 earnings at $2.50 EPS.

A number of other equity analysts have also published reports on SBCF. Truist Financial cut its price target on Seacoast Banking Co. of Florida stock from $42.00 to $39.00 and set a “buy” rating on the stock in a Wednesday 6 research report July. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a Monday, Aug. 1 research report. Three analysts have rated the stock with a hold rating and two have assigned the stock a buy rating. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.33.

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF Share opened at $36.75 on Monday. Seacoast Banking Co. of Florida has a 1-year low of $29.28 and a 1-year high of $39.31. The company’s 50-day moving average is $33.72 and its 200-day moving average is $34.50. The company has a market capitalization of $2.25 billion, a price-earnings ratio of 19.55 and a beta of 1.12. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt ratio of 0.05.

Seacoast Banking Co. of Florida (NASDAQ: SBCFGet a rating) last announced its results on Thursday, July 28. The financial services provider reported earnings per share (EPS) of $0.53 for the quarter, meeting analyst consensus estimates of $0.53. Seacoast Banking Co. of Florida had a net margin of 29.70% and a return on equity of 9.80%. In the same quarter last year, the company achieved EPS of $0.59.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Investors of record on Thursday, September 15 will receive a dividend of $0.17. The ex-dividend date is Wednesday, September 14. This represents an annualized dividend of $0.68 and a yield of 1.85%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 36.17%.

Insider Activity at Seacoast Banking Co. of Florida

In related news, the director Dennis S. HudsonIII sold 8,000 shares in a trade that took place on Monday, August 1. The shares were sold at an average price of $36.00, for a total value of $288,000.00. Following the transaction, the administrator now directly owns 169,698 shares of the company, valued at $6,109,128. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this link. 2.00% of the shares are currently held by insiders of the company.

Hedge funds weigh on Seacoast Banking Co. of Florida

Major investors have recently been buying and selling shares of the company. Great West Life Assurance Co. Can increased its stake in Seacoast Banking Co. of Florida by 0.6% in the first quarter. Great West Life Assurance Co. Can now owns 50,589 shares of the financial services provider valued at $1,816,000 after buying 317 additional shares last quarter. Yousif Capital Management LLC increased its stake in Seacoast Banking Co. of Florida by 0.6% in the first quarter. Yousif Capital Management LLC now owns 53,192 shares of the financial services provider valued at $1,863,000 after buying 336 additional shares last quarter. Maryland State Retirement & Pension System increased its stake in Seacoast Banking Co. of Florida by 1.5% in the first quarter. Maryland State Retirement & Pension System now owns 23,602 shares of the financial services provider valued at $827,000 after buying 340 additional shares last quarter. Advisor Partners LLC increased its stake in Seacoast Banking Co. of Florida by 1.3% in the fourth quarter. Advisor Partners LLC now owns 28,362 shares of the financial services provider valued at $1,004,000 after buying 355 additional shares last quarter. Finally, Mutual of America Capital Management LLC increased its stake in Seacoast Banking Co. of Florida by 5.7% in the first quarter. Mutual of America Capital Management LLC now owns 8,430 shares of the financial services provider valued at $295,000 after buying 458 additional shares last quarter. 79.87% of the shares are currently held by institutional investors and hedge funds.

About Seacoast Banking Co. of Florida

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Seacoast Banking Corporation of Florida operates as a bank holding company for Seacoast National Bank which provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management and mortgages; 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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