Seacoast Banking Corporation of Florida (SBCF) is Initiated by Raymond James to Outperform

Seacoast Banking Corporation of Florida (SBCF) was Initiated by Raymond James to “Outperform”. Raymond James advised their investors in a research report released on Nov 30, 2016.

Many Wall Street Analysts have commented on Seacoast Banking Corporation of Florida. Seacoast Banking Corporation of Florida was Downgraded by FIG Partners to ” Market Perform” on Nov 7, 2016. Seacoast Banking Corporation of Florida was Downgraded by Hovde Group to ” Market Perform” on Sep 6, 2016.

On the company’s financial health, Seacoast Banking Corporation of Florida reported $0.28 EPS for the quarter, based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus estimate of $0.28. The company had revenue of $47.21 million for the quarter, compared to analysts expectations of $47.20 million. The company’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Seacoast Banking Corporation of Florida opened for trading at $19.95 and hit $20.11 on the upside on Tuesday, eventually ending the session at $19.99, with a gain of 0.81% or 0.16 points. The heightened volatility saw the trading volume jump to 4,34,612 shares. Company has a market cap of $760 M.

In a different news, on Nov 29, 2016, Julie H Daum (director) purchased 3,000 shares at $19.93 per share price. According to the SEC, on Jun 2, 2016, Maryann Goebel (director) purchased 5,850 shares at $16.82 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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