The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) hit a new 52-week high and has $21.61 target or 9.00% above today’s $19.83 share price. The 8 months bullish chart indicates low risk for the $762.09M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $21.61 price target is reached, the company will be worth $68.59 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 0.20% or $0.04 during the last trading session, hitting $19.83. About 172,090 shares traded hands. Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has risen 22.20% since April 25, 2016 and is uptrending. It has outperformed by 16.19% 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 $11.15M for 17.09 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.
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. Seacoast Banking Co. of Florida has been the topic of 10 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The rating was upgraded by FBR Capital on Tuesday, March 29 to “Outperform”. The firm has “Hold” rating given on Wednesday, August 19 by Zacks. Zacks upgraded the shares of SBCF in a report on Wednesday, August 12 to “Sell” rating. The rating was upgraded by Keefe Bruyette & Woods on Thursday, September 1 to “Outperform”. The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) earned “Market Perform” rating by Wood on Friday, August 28. As per Tuesday, September 6, the company rating was downgraded by Hovde Group. The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has “Neutral” rating given on Monday, April 11 by SunTrust. The firm has “Outperform” rating given on Wednesday, May 11 by Hovde Group. The firm earned “Sell” rating on Thursday, August 27 by Zacks. On Monday, November 7 the stock rating was downgraded by FIG Partners to “Market Perform”.
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.”
Insitutional Activity: The institutional sentiment decreased to 1.37 in 2016 Q2. Its down 1.26, from 2.63 in 2016Q1. The ratio dropped, 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.
Federated Inc Pa holds 143 shares or 0% of its portfolio. Virginia Retirement System Et Al accumulated 0.01% or 27,700 shares. Millennium Mngmt Limited holds 151,997 shares or 0.01% of its portfolio. Geode Cap Management Ltd Liability Corporation holds 197,350 shares or 0% of its portfolio. Deutsche Bancorporation Ag holds 0% or 117,206 shares in its portfolio. Highlander Ltd Limited Liability Company has 30,975 shares for 0.46% of their US portfolio. Wells Fargo Mn, a California-based fund reported 35,325 shares. Renaissance Tech Ltd Liability Corporation accumulated 0.01% or 456,900 shares. Basswood Mgmt Ltd Llc accumulated 2.24% or 2.39M shares. Goldman Sachs Gp Incorporated last reported 24,607 shares in the company. Art Advsr Ltd Liability Corp last reported 24,330 shares in the company. Highbridge Capital Management Ltd Liability Corporation has invested 0.01% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). First Advsrs Ltd Partnership last reported 50,562 shares in the company. Moreover, State Street has 0% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 413,712 shares. Manufacturers Life Insur The holds 0% or 20,763 shares in its portfolio.
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 Marketwatch.com with their article: “Seacoast Banking started at neutral with $17 stock price target at SunTrust RH” published on November 13, 2010, 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 Floridian Financial Group, Inc.” published on November 03, 2015 as well as Prnewswire.com‘s news article titled: “Seacoast Banking Corporation of Florida To Acquire BMO Harris’ Orlando Banking …” with publication date: October 15, 2015.
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.
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