Seacoast Banking Corporation of Florida (SBCF) is Downgraded by Hovde Group to Market Perform

Seacoast Banking Corporation of Florida (SBCF) was Downgraded by Hovde Group to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Hovde Group advised their investors in a research report released on Sep 6, 2016.

Many Wall Street Analysts have commented on Seacoast Banking Corporation of Florida. Seacoast Banking Corporation of Florida was Upgraded by Keefe Bruyette to ” Outperform” on Sep 1, 2016.

On the company’s financial health, Seacoast Banking Corporation of Florida reported $0.23 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $0.23.Analysts expectations of $ 43.10.During the same quarter in the previous year, the company posted $0.35 EPS.

Seacoast Banking Corporation of Florida opened for trading at $16.85 and hit $17.52 on the upside on Thursday, eventually ending the session at $17.21, with a gain of 4.62% or 0.76 points. The heightened volatility saw the trading volume jump to 6,17,216 shares. Company has a market cap of $654 M.

In a different news, on Jun 2, 2016, Maryann Goebel (director) purchased 5,850 shares at $16.82 per share price. According to the SEC, on May 23, 2016, Julie H Daum (director) purchased 5,000 shares at $15.69 per share price. On Apr 11, 2016, Stephen E Bohner (director) sold 4 shares at $15.13 per share price, according to the Form-4 filing with the securities and exchange commission.

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank a national banking association (Seacoast National). The Company 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. Its indirect wholly owned subsidiaries include FNB Insurance Services Inc. South Branch Building Inc. TCoast Holdings LLC and BR West LLC. It also offers Internet and mobile banking to business and retail customers. It allows customers to access transactional information on their deposit accounts review loan and deposit balances transfer funds between linked accounts and make deposits to and loan payments from a deposit account. It has total deposits of approximately $2.8 billion.

Seacoast Banking Corporation of Florida

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