Analysts Anticipate Seacoast Banking Co. of Florida (NASDAQ:SBCF) to Announce $0.49 Earnings Per Share

Wall Street analysts predict that Seacoast Banking Co. of Florida (NASDAQ:SBCF) will report earnings per share (EPS) of $0.49 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Seacoast Banking Co. of Florida’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.48. Seacoast Banking Co. of Florida posted earnings of $0.37 per share during the same quarter last year, which suggests a positive year over year growth rate of 32.4%. The company is expected to announce its next quarterly earnings results on Thursday, October 24th.

On average, analysts expect that Seacoast Banking Co. of Florida will report full-year earnings of $1.87 per share for the current financial year, with EPS estimates ranging from $1.86 to $1.88. For the next financial year, analysts forecast that the business will post earnings of $2.05 per share, with EPS estimates ranging from $1.94 to $2.15. Zacks’ earnings per share calculations 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 released its earnings results on Thursday, July 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.02. The company had revenue of $73.70 million during the quarter, compared to analyst estimates of $75.44 million. Seacoast Banking Co. of Florida had a return on equity of 10.69% and a net margin of 24.05%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share.

SBCF has been the subject of several recent research reports. Raymond James set a $29.00 price objective on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a report on Friday, June 21st. B. Riley set a $30.00 price objective on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a report on Thursday, July 11th. BidaskClub lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Zacks Investment Research lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Finally, Hovde Group raised shares of Seacoast Banking Co. of Florida from an “underperform” rating to a “market perform” rating in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Seacoast Banking Co. of Florida has an average rating of “Hold” and an average target price of $29.63.

Shares of SBCF traded down $0.24 during mid-day trading on Thursday, reaching $23.94. The company’s stock had a trading volume of 195,505 shares, compared to its average volume of 222,789. The company has a fifty day moving average price of $25.68. The company has a market cap of $1.29 billion, a P/E ratio of 14.78 and a beta of 0.91. Seacoast Banking Co. of Florida has a 1 year low of $21.74 and a 1 year high of $31.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.90.

In other news, EVP Juliette Kleffel sold 4,433 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 4,730 shares in the company, valued at $114,134.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Several large investors have recently bought and sold shares of SBCF. Bank of Montreal Can raised its stake in shares of Seacoast Banking Co. of Florida by 16.5% in the first quarter. Bank of Montreal Can now owns 3,636 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 516 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at approximately $100,000. Everence Capital Management Inc. acquired a new stake in shares of Seacoast Banking Co. of Florida in the first quarter valued at approximately $224,000. BNP Paribas Arbitrage SA increased its holdings in shares of Seacoast Banking Co. of Florida by 59,725.0% in the first quarter. BNP Paribas Arbitrage SA now owns 9,572 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 9,556 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at approximately $264,000. Institutional investors own 83.55% 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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