SunTrust Banks Weighs in on Seacoast Banking Co. of Florida’s Q3 2019 Earnings (NASDAQ:SBCF)

Seacoast Banking Co. of Florida (NASDAQ:SBCF) – SunTrust Banks reduced their Q3 2019 EPS estimates for Seacoast Banking Co. of Florida in a note issued to investors on Monday, July 29th. SunTrust Banks analyst M. Young now anticipates that the financial services provider will post earnings of $0.48 per share for the quarter, down from their previous estimate of $0.51. SunTrust Banks also issued estimates for Seacoast Banking Co. of Florida’s Q4 2019 earnings at $0.50 EPS, FY2019 earnings at $1.90 EPS, Q1 2020 earnings at $0.49 EPS, Q2 2020 earnings at $0.53 EPS, Q3 2020 earnings at $0.52 EPS, Q4 2020 earnings at $0.51 EPS and FY2020 earnings at $2.05 EPS.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. The company had revenue of $73.70 million for the quarter, compared to analyst estimates of $75.44 million. Seacoast Banking Co. of Florida had a net margin of 24.05% and a return on equity of 10.69%. Seacoast Banking Co. of Florida’s revenue was up 17.2% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share.

Several other brokerages have also issued reports on SBCF. Hovde Group raised shares of Seacoast Banking Co. of Florida from an “underperform” rating to a “market perform” rating in a report on Tuesday, May 14th. ValuEngine lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd. Raymond James set a $29.00 price target on shares of Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a report on Friday, June 21st. Zacks Investment Research lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Finally, B. Riley set a $30.00 price target on shares of Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $29.63.

Shares of SBCF stock opened at $26.41 on Wednesday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 16.30 and a beta of 0.92. The company’s 50 day simple moving average is $25.41. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.23. Seacoast Banking Co. of Florida has a 52-week low of $21.74 and a 52-week high of $31.94.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at approximately $100,000. Arizona State Retirement System increased its position in shares of Seacoast Banking Co. of Florida by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 79,754 shares of the financial services provider’s stock valued at $2,029,000 after purchasing an additional 587 shares during the last quarter. Eidelman Virant Capital purchased a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at approximately $763,000. Oregon Public Employees Retirement Fund increased its position in shares of Seacoast Banking Co. of Florida by 2.0% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,257 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 400 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Seacoast Banking Co. of Florida by 4.8% in the 1st quarter. First Trust Advisors LP now owns 125,697 shares of the financial services provider’s stock valued at $3,312,000 after purchasing an additional 5,739 shares during the last quarter. 83.90% of the stock is currently owned by institutional investors and hedge funds.

In other Seacoast Banking Co. of Florida news, EVP Juliette Kleffel sold 4,433 shares of Seacoast Banking Co. of Florida stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $24.13, for a total value of $106,968.29. Following the transaction, the executive vice president now directly owns 4,730 shares of the company’s stock, valued at $114,134.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.

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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