On Friday, Seacoast Banking (SBCF) stock got a positive adjustment to its Relative Strength (RS) Rating, from 78 to 84. Banking stock has been performing well and is one sector holding up in the stock market correction.
XWhen looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
This exclusive rating from Investor's Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains typically have an RS Rating of over 80 in the early stages of their moves.
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Is Seacoast Banking Stock A Buy?
Seacoast Banking stock is still inside a buying range after breaking past a 38.58 entry in a cup with handle. Once a stock moves 5% or higher beyond the initial entry, it's considered out of a proper buying area. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips. Also, check out "Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks."
While earnings growth declined in the bank's most recent quarterly report from 23% to 2%, sales rose 8%, up from -6% in the previous report. Keep an eye out for the company's next round of numbers on or around Jan. 28.
Seacoast Banking stock earns the No. 23 rank among its peers in the Banks-Southeast industry group. First Bancorp (FBP) and Porter Bancorp (LMST) are also among the group's highest-rated stocks. For more industry news, check out "Banks And Financial Stocks News And Analysis."
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