Dennis Hudson III Sells 8,000 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total transaction of $251,280.00. Following the sale, the director owned 220,854 shares in the company, valued at $6,937,024.14. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ SBCF traded down $0.67 during midday trading on Wednesday, reaching $30.60. The company’s stock had a trading volume of 1,550,768 shares, compared to its average volume of 760,503. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33. The company has a 50 day moving average price of $31.07 and a 200 day moving average price of $31.79. Seacoast Banking Corporation of Florida has a one year low of $24.46 and a one year high of $35.55. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 20.13 and a beta of 0.86.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The business had revenue of $205.10 million for the quarter, compared to the consensus estimate of $205.51 million. During the same period in the previous year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities research analysts expect that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. Seacoast Banking Corporation of Florida’s payout ratio is presently 50.00%.

Institutional Trading of Seacoast Banking Corporation of Florida

Large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its position in Seacoast Banking Corporation of Florida by 69.7% in the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 352 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Seacoast Banking Corporation of Florida in the fourth quarter worth approximately $26,000. Salomon & Ludwin LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 59.3% in the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after buying an additional 356 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the third quarter worth $33,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the third quarter worth $45,000. 81.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on SBCF shares. Weiss Ratings downgraded shares of Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Piper Sandler lowered their price objective on shares of Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of “Hold” and an average target price of $34.50.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.