Seacoast Banking Corporation of Florida (NASDAQ: SBCF) shares rose in value on Monday February 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Analysts at SunTrust Banks, Inc. upgraded shares of Seacoast Banking Corporation of Florida (NASDAQ: SBCF) from Hold to Buy today. SunTrust Banks, Inc. currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have spoken on the company recently, and the company has secured a consensus one-year price target of $23.66, above the opening price of $23.60. Seacoast Banking Corporation of Florida stock has a 52-week high of $24.96. Stock prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Yesterday Seacoast Banking Corporation of Florida (NASDAQ: SBCF) shares last traded at $24.57, which represents an increase of $1.56 from the previous closing price. Opening at $23.60, they varied from $23.60 and $24.96 throughout the day.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) now has a market cap of 923.91M.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) Average Daily Trading Volume
The stock’s average daily volume is 238,461 shares out of a total float 26,752,000 and some 162,837 shares traded hands yesterday, 108 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you’re researching.
Seacoast Banking Corporation of Florida (NASDAQ: SBCF) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Seacoast Banking Corporation of Florida (NASDAQ: SBCF) now has a 50-day MA of $22.08 and 200-day MA of $18.70. It has traded in a 52-week range between $13.90 – 24.96 and today’s last price is 1.56%% lower than the 52 week high of $24.96.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors watch for companies that have raised their earnings at least 25% or more for the past 3 years.
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