Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Announces Quarterly Dividend of $0.19

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, January 22nd. Investors of record on Friday, March 13th will be paid a dividend of 0.19 per share by the financial services provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, March 13th.

Seacoast Banking Corporation of Florida has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Seacoast Banking Corporation of Florida to earn $1.94 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 39.2%.

Seacoast Banking Corporation of Florida Stock Down 1.7%

NASDAQ SBCF traded down $0.59 during mid-day trading on Friday, reaching $34.19. 68,397 shares of the company’s stock traded hands, compared to its average volume of 580,913. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. Seacoast Banking Corporation of Florida has a 1-year low of $21.36 and a 1-year high of $35.46. The company has a fifty day simple moving average of $32.10 and a 200-day simple moving average of $30.74. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 20.26 and a beta of 0.92.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, October 27th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%.The company had revenue of $158.57 million for the quarter, compared to analyst estimates of $154.84 million. During the same period in the prior year, the company posted $0.36 EPS. Seacoast Banking Corporation of Florida’s quarterly revenue was up 20.7% on a year-over-year basis. As a group, equities research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Insiders Place Their Bets

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 8,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $31.13, for a total value of $249,040.00. Following the transaction, the director owned 251,275 shares of the company’s stock, valued at $7,822,190.75. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of institutional investors and hedge funds have recently made changes to their positions in SBCF. Wellington Management Group LLP lifted its holdings in shares of Seacoast Banking Corporation of Florida by 58.6% in the 3rd quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock worth $166,825,000 after purchasing an additional 2,025,988 shares during the last quarter. FJ Capital Management LLC increased its position in Seacoast Banking Corporation of Florida by 194.6% in the second quarter. FJ Capital Management LLC now owns 1,154,434 shares of the financial services provider’s stock worth $31,885,000 after buying an additional 762,505 shares during the period. Tributary Capital Management LLC lifted its stake in Seacoast Banking Corporation of Florida by 99.4% in the third quarter. Tributary Capital Management LLC now owns 1,459,462 shares of the financial services provider’s stock valued at $44,411,000 after buying an additional 727,428 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the third quarter valued at $14,865,000. Finally, Brown Advisory Inc. boosted its holdings in shares of Seacoast Banking Corporation of Florida by 37.3% during the second quarter. Brown Advisory Inc. now owns 1,255,807 shares of the financial services provider’s stock valued at $34,685,000 after acquiring an additional 341,241 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

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.