Keefe, Bruyette and Woods Upgrades Seacoast Banking Corp (SBCF) to Outperform
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Keefe, Bruyette and Woods upgrades Seacoast Banking Corp (Nasdaq: SBCF) to Outperform. Price target $11.
Keefe analyst says, "We are upgrading SBCF to Outperform based on the benefit we believe Seacoast will realize from the Treasury's decision to infuse preferred capital into U.S. banks. We believe SBCF will most likely participate by selling roughly $30M of preferred capital to the gov't, avoiding a dilutive capital raise."
Seacoast Banking Corporation of Florida (Seacoast) is a bank holding company that operates through its principal subsidiary, Seacoast National Bank (Seacoast National).
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