B.Riley FBR analyst Steve Moss reiterated a Buy rating on Seacoast Banking Corporation Of Florida (NASDAQ: SBCF) today and set a price target of $35. The company’s shares opened today at $31.52.
Moss noted:
“We hosted meetings with Seacoast Banking Corp. of Florida’s (SBCF) Chairman, President, and CEO Dennis Hudson III, EVP and CFO Charles Shaffer, EVP and and institutional investors. SBCF was upbeat about its business prospects and about the bank’s financial performance, which should continue to improve helped by the strong Florida economy, higher interest rates, and continued efficiency initiatives. We expect earnings growth will remain strong for the foreseeable future given the aforementioned factors and we believe that earnings could be further enhanced by accretive M&A transactions.”
According to TipRanks.com, Moss is a 4-star analyst with an average return of 7.6% and a 62.1% success rate. Moss covers the Financial sector, focusing on stocks such as The Bank of Princeton, Meta Financial Group, and First Commonwealth.
Seacoast Banking Corporation Of Florida has an analyst consensus of Moderate Buy, with a price target consensus of $34.
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Seacoast Banking Corporation Of Florida’s market cap is currently $1.49B and has a P/E ratio of 23.76. The company has a Price to Book ratio of 2.08.
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Seacoast Banking Corp. of Florida is a bank holding company of Seacoast National Bank, which engages in the provision of financial services. It offers commercial and retail banking, wealth management, treasury management solutions, mobile banking, and mortgage services to. The company was founded in 1983 and is headquartered in Stuart, FL.
