Seacoast Banking Corporation of Florida
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Financials : Banks | Small Cap Value
Company profile

Seacoast Banking Corporation of Florida is a financial holding company. The Company's principal subsidiary is Seacoast National Bank (Seacoast Bank), a wholly owned national banking association. It provides integrated financial services, including commercial and consumer banking, wealth management and mortgage services to customers through online and mobile banking solutions and Seacoast Bank's network of approximately 54 traditional branches and commercial banking centers. Its loans held for investment are categorized as construction and land development, commercial real estate-owner-occupied, commercial real estate-non-owner-occupied, residential real estate, commercial and financial, and consumer and paycheck protection program. Its offices stretch from the southeast, including Fort Lauderdale, Boca Raton and Palm Beach, north along the east coast to the Daytona area, into Orlando and Central Florida and the adjacent Tampa market, and west to Okeechobee and surrounding counties.

Closing Price
Day's Change
-0.41 (-1.29%)
B/A Size
Day's High
Day's Low

10-day average volume:

First Solar stock dives after BofA Securities turns bearish, as 'all the good news is priced in'

12:07 pm ET April 5, 2022 (MarketWatch)

Shares of First Solar Inc. (FSLR) took a 4.5% dive in midday trading Tuesday, after BofA Securities analyst Julien Dumoulin-Smith turned bearish on the solar power systems company, saying "all the good news is priced in." Dumoulin-Smith cut his rating to underperform from neutral, and his new stock price target of $65.50, down from $76.50, implies about 18% downside from current levels. He said that while the timing of his downgrade might seem counterintuitive, given that the U.S. Department of Commerce recently launched an investigation into Southeast Asia-based solar module manufacturers, but he emphasized that "policy has consistently failed to drive pricing power" for First Solar. In addition, Dumoulin-Smith said the structural backdrop on First Solar's margins has deteriorated significantly, "with raw material and freight exposure a headwind that is unlikely to peel back any time soon." He added that First Solar is unlikely to benefit from accelerating solar demand in Europe, given greater competition in that region. The stock has dropped 8.0% year to date, while the Invesco Solar ETF (TAN) has gained 0.8% and the S&P 500 has slipped 4.5%.

-Tomi Kilgore


(END) Dow Jones Newswires

April 05, 2022 12:07 ET (16:07 GMT)

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