Seacoast Banking Corporation of Florida (NASDAQ:SBCF)’s traded shares stood at 3.32 million during the last session, with the company’s beta value hitting 1.13. At the close of trading, the stock’s price was $25.20, to imply a decrease of -3.89% or -$1.02 in intraday trading. The SBCF share’s 52-week high remains $36.92, putting it -46.51% down since that peak but still an impressive 18.02% since price per share fell to its 52-week low of $20.66. The company has a valuation of $2.16B, with an average of 1.39 million shares in intraday trading volume over the past 10 days and average of 762.17K shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Seacoast Banking Corporation of Florida (SBCF), translating to a mean rating of 2.70. Of 6 analyst(s) looking at the stock, 0 analyst(s) give SBCF a Sell rating. 1 of those analysts rate the stock as Overweight while 3 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.42.
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Seacoast Banking Corporation of Florida (NASDAQ:SBCF) trade information
After registering a -3.89% downside in the last session, Seacoast Banking Corporation of Florida (SBCF) has traded red over the past five days. The stock hit a weekly high of 26.59 this Friday, 03/17/23, dropping -3.89% in its intraday price action. The 5-day price performance for the stock is -5.05%, and -23.22% over 30 days. With these gigs, the year-to-date price performance is -19.20%. Short interest in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) saw shorts transact 6.15 million shares and set a 10.36 days time to cover.
Analysts on Wall Street suggest a consensus price target of $35.21, implying an increase of 28.43% to the stock’s current value. The extremes give us $33.00 and $37.00 for target low and target high price respectively. As such, SBCF has been trading -46.83% off suggested target high and -30.95% from its likely low.
Seacoast Banking Corporation of Florida (SBCF) estimates and forecasts
Looking at statistics comparing Seacoast Banking Corporation of Florida share performance against respective industry, we note that the company has outperformed competitors. Seacoast Banking Corporation of Florida (SBCF) shares are -20.85% down over the last 6 months, with its year-to-date growth rate higher than industry average at 19.28% against 3.50%. Revenue is forecast to grow 27.30% this quarter before jumping 22.60% for the next one. The rating firms project that company’s revenue will grow 54.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 4 analysts is $157.35 million. Meanwhile, for the quarter ending Jun 2023, a total of 4 analyst(s) estimate revenue growth to $170.64 million.Earnings reports from the last fiscal year show that sales brought in $91.89 million and $98.61 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 71.20% before jumping 73.00% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 6.90% for the past 5-year period. While 2023 is set for a -23.90% return in earnings, projections for the next 5 years are at 9.00% annually.
Seacoast Banking Corporation of Florida has its next earnings report out between April 26 and May 01. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Seacoast Banking Corporation of Florida has a forward dividend ratio of 0.68, with the share yield ticking at 2.70% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF)’s Major holders
Seacoast Banking Corporation of Florida insiders hold 0.98% of total outstanding shares, with institutional holders owning 65.59% of the shares at 66.24% float percentage. In total, 65.59% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 9.03 million shares (or 14.70% of shares), all amounting to roughly $272.91 million.
The next major institution holding the largest number of shares is Capital World Investors with 4.16 million shares, or about 6.77% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $125.66 million.
We also have Smallcap World Fund and iShares Core S&P Smallcap ETF as the top two Mutual Funds with the largest holdings of the Seacoast Banking Corporation of Florida (SBCF) shares. Going by data provided on Dec 30, 2022, Smallcap World Fund holds roughly 4.32 million shares. This is just over 7.04% of the total shares, with a market valuation of $134.86 million. Data from the same date shows that the other fund manager holds a little less at 4.28 million, or 6.97% of the shares, all valued at about 133.6 million.