Today’s Rating Change: What To Expect From Seacoast Banking (NASDAQ:SBCF) After Raymond James’s New Coverage

November 30, 2016 - By Michael Collier

Today's Rating Change: What To Expect From Seacoast Banking (NASDAQ:SBCF) After Raymond James's New Coverage

How Raymond James Rates Seacoast Banking (NASDAQ:SBCF)

Raymond James has begun its coverage on Seacoast Banking (NASDAQ:SBCF), today 30 November. The research firm finds the stock of Seacoast Banking (NASDAQ:SBCF) attractive and has given it Outperform rating.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Ratings Coverage

Out of 6 analysts covering Seacoast Banking Co. of Florida (NASDAQ:SBCF), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. $20 is the highest target while $16 is the lowest. The $17.67 average target is -13.93% below today’s ($20.53) stock price. Seacoast Banking Co. of Florida has been the topic of 10 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by FBR Capital on Tuesday, March 29. The firm earned “Sell” rating on Wednesday, August 12 by Zacks. The rating was upgraded by Hovde Group on Wednesday, May 11 to “Outperform”. The firm earned “Market Perform” rating on Tuesday, September 6 by Hovde Group. SunTrust initiated the stock with “Neutral” rating in Monday, April 11 report. The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has “Market Perform” rating given on Monday, November 7 by FIG Partners. The firm has “Outperform” rating given on Thursday, September 1 by Keefe Bruyette & Woods. Wood maintained the shares of SBCF in a report on Friday, August 28 with “Market Perform” rating. The company was downgraded on Wednesday, August 19 by Zacks. The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) earned “Sell” rating by Zacks on Thursday, August 27.

About 156,741 shares traded hands. Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has risen 21.89% since April 27, 2016 and is uptrending. It has outperformed by 16.66% the S&P500.

Analysts await Seacoast Banking Corporation of Florida (NASDAQ:SBCF) to report earnings on January, 26. They expect $0.29 EPS, up 52.63% or $0.10 from last year’s $0.19 per share. SBCF’s profit will be $11.12 million for 17.70 P/E if the $0.29 EPS becomes a reality. After $0.28 actual EPS reported by Seacoast Banking Corporation of Florida for the previous quarter, Wall Street now forecasts 3.57% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 1.37 in 2016 Q2. Its down 1.26, from 2.63 in 2016Q1. The ratio is negative, as 6 funds sold all Seacoast Banking Corporation of Florida shares owned while 18 reduced positions. 17 funds bought stakes while 46 increased positions. They now own 18.72 million shares or 6.37% more from 17.60 million shares in 2016Q1.

Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 754 shares or 0% of the stock. Salzhauer Michael last reported 1.74% of its portfolio in the stock. Tfs Capital Ltd Liability holds 0.07% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 22,505 shares. Maltese Cap Management reported 945,542 shares or 1.92% of all its holdings. First Advisors Lp owns 50,562 shares or 0% of their US portfolio. Alliancebernstein Limited Partnership reported 14,700 shares or 0% of all its holdings. Private Cap Mgmt Lc holds 1.51% or 636,293 shares in its portfolio. Bnp Paribas Arbitrage Sa last reported 1,158 shares in the company. Moreover, Invesco Ltd has 0% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 15,816 shares. Aqr Cap Mngmt Ltd, a Connecticut-based fund reported 28,593 shares. American Gru Inc last reported 0% of its portfolio in the stock. Us Bancshares De accumulated 0% or 1,830 shares. Fsi Group Ltd Liability has invested 0.31% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Blackrock accumulated 0% or 13,285 shares. Banc Funds Company Llc owns 600,829 shares or 0.57% of their US portfolio.

Insider Transactions: Since November 29, 2016, the stock had 1 buying transaction, and 0 sales for $59,787 net activity. Daum Julie H also bought $59,787 worth of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) shares.

Seacoast Banking Corporation of Florida is a bank holding company. The company has a market cap of $786.95 million. The Company’s principal subsidiary is Seacoast National Bank, a national banking association. It has a 30.81 P/E ratio. The Firm 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.

According to Zacks Investment Research, “Seacoast Banking Corp of Florida is a bank holding company. Seacoast and its subsidiaries offer a full array of deposit accounts and retail banking services, engages in consumer and commercial lending and provides a wide variety of trust and asset management services, as well as securities and annuity products.”

SBCF Company Profile

Seacoast Banking Corporation of Florida, incorporated on January 24, 1983, is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (Seacoast National). The Firm 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. The Company, through its bank subsidiary, provides a range of community banking services to commercial, small business and retail customers, offering a range of transaction and savings deposit products, treasury management services, brokerage, and secured and unsecured loan products, including revolving credit facilities, letters of credit and similar financial guarantees, and asset based financing. Seacoast National also provides trust and investment management services to retirement plans, firms and individuals. It also offers Internet and mobile banking to business and retail customers.

More notable recent Seacoast Banking Corporation of Florida (NASDAQ:SBCF) news were published by: Prnewswire.com which released: “Seacoast Banking Corporation of Florida Completes Acquisition of Floridian …” on March 14, 2016, also Prnewswire.com with their article: “Seacoast Banking Corporation of Florida to Acquire Floridian Financial Group, Inc.” published on November 03, 2015, Reuters.com published: “BRIEF-Seacoast Banking Corporation Of Florida reports Q3 EPS of $0.24” on October 26, 2016. More interesting news about Seacoast Banking Corporation of Florida (NASDAQ:SBCF) were released by: Prnewswire.com and their article: “Seacoast Banking Corporation of Florida To Acquire BMO Harris’ Orlando Banking …” published on October 15, 2015 as well as Prnewswire.com‘s news article titled: “Seacoast Banking Corporation of Florida to Announce Quarterly Earnings Results …” with publication date: October 14, 2016.

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