Guggenheim Initiates Coverage On Seacoast Banking Corporation of Florida to Neutral

Guggenheim Initiates Coverage On Seacoast Banking Corporation of Florida(SBCF). The shares have been rated Neutral. The rating by the stock financial advisor at Guggenheim was issued on Mar 15, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 13, 2017, SunTrust Robinson Humphrey said it Upgrades its rating on Seacoast Banking Corporation of Florida. According to the research note, SunTrust Robinson Humphrey Raises the price target to $26 per share from a prior target of $23. The shares have been rated ‘Buy’ by the firm.

Seacoast Banking Corporation of Florida (SBCF) made into the market gainers list on Fridays trading session with the shares advancing 0.04% or 0.01 points. Due to strong positive momentum, the stock ended at $23.57, which is also near the day’s high of $23.76. The stock began the session at $23.5 and the volume stood at 13,47,111 shares. The 52-week high of the shares is $25.13 and the 52 week low is $15.02. The company has a current market capitalization of $960 M and it has 4,07,34,382 shares in outstanding.

Seacoast Banking Corporation of Florida(SBCF) last announced its earnings results on Feb 1, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $47.354M. Analysts had an estimated revenue of $48.270M. Earnings per share were $0.3. Analysts had estimated an EPS of $0.3.

Several Insider Transactions has been reported to the SEC. On Feb 17, 2017, Herbert A. Lurie (director) purchased 20,000 shares at $22.25 per share price.Also, On Feb 17, 2017, Stephen E Bohner (director) purchased 1,000 shares at $22.25 per share price.On Feb 17, 2017, Alvaro Monserrat (director) purchased 3,000 shares at $22.25 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.

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