Insider Selling: Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $117,032.37 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Maryann Goebel sold 3,419 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $34.23, for a total transaction of $117,032.37. Following the transaction, the director directly owned 6,000 shares in the company, valued at approximately $205,380. This represents a 36.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Seacoast Banking Corporation of Florida Stock Up 1.3%

Shares of NASDAQ:SBCF opened at $35.09 on Friday. The stock’s 50-day moving average price is $32.85 and its 200-day moving average price is $31.13. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $35.55. The stock has a market capitalization of $3.43 billion, a P/E ratio of 21.93 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The company had revenue of $204.79 million during the quarter, compared to the consensus estimate of $201.25 million. During the same period last year, the firm posted $0.48 EPS. The company’s revenue was up 53.0% on a year-over-year basis. On average, equities analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.19 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 2.2%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 47.50%.

Institutional Trading of Seacoast Banking Corporation of Florida

Several institutional investors and hedge funds have recently bought and sold shares of SBCF. Royal Bank of Canada raised its position in shares of Seacoast Banking Corporation of Florida by 41.5% in the 1st quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider’s stock worth $2,777,000 after acquiring an additional 31,636 shares in the last quarter. AQR Capital Management LLC grew its stake in Seacoast Banking Corporation of Florida by 123.4% in the first quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock worth $2,133,000 after purchasing an additional 45,792 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Seacoast Banking Corporation of Florida by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 2,187 shares in the last quarter. Jane Street Group LLC purchased a new position in Seacoast Banking Corporation of Florida during the first quarter valued at $4,817,000. Finally, Truist Financial Corp boosted its holdings in shares of Seacoast Banking Corporation of Florida by 2.2% during the 2nd quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider’s stock valued at $475,000 after buying an additional 373 shares in the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBCF has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price target on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Seacoast Banking Corporation of Florida currently has an average rating of “Hold” and a consensus target price of $31.90.

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.