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

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $31.34, for a total value of $250,720.00. Following the completion of the transaction, the director owned 236,854 shares in the company, valued at $7,423,004.36. The trade was a 3.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Seacoast Banking Corporation of Florida Stock Performance

NASDAQ:SBCF traded down $1.02 during trading on Friday, reaching $29.95. The company’s stock had a trading volume of 233,397 shares, compared to its average volume of 704,077. The firm has a 50 day moving average of $33.06 and a 200-day moving average of $31.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 18.72 and a beta of 0.92. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The company had revenue of $204.80 million during the quarter, compared to the consensus estimate of $201.25 million. During the same period in the prior year, the firm posted $0.48 EPS. The business’s revenue was up 53.0% on a year-over-year basis. Research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 47.50%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SBCF shares. Zacks Research cut Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.90.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of institutional investors and hedge funds have recently made changes to their positions in SBCF. Jones Financial Companies Lllp increased 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 buying an additional 352 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Seacoast Banking Corporation of Florida in the 4th quarter worth approximately $26,000. Salomon & Ludwin LLC raised its stake in Seacoast Banking Corporation of Florida by 59.3% during the 4th quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 356 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in Seacoast Banking Corporation of Florida during the third quarter valued at approximately $33,000. Finally, Advisory Services Network LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the third quarter worth approximately $45,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

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.