Truist downgraded Seacoast Banking to Hold from Buy with a price target of $29, down from $33. Seacoast should benefit from slower loan repricing tailwind compared to peers, but the firm thinks the stock is fairly valued at the current premium valuation, the analyst tells investors. The firm’s 2024 EPS estimate is 16% below consensus and its 2025 EPS estimate is 9% below consensus, the analyst noted.
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