Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $76,437.66 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Jacqueline Lynette Bradley sold 2,279 shares of Seacoast Banking Corporation of Florida stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $33.54, for a total value of $76,437.66. Following the completion of the transaction, the director directly owned 7,000 shares of the company’s stock, valued at $234,780. This represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Seacoast Banking Corporation of Florida Stock Performance

SBCF opened at $35.09 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.77. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.55. The firm has a market cap of $3.43 billion, a P/E ratio of 21.93 and a beta of 0.93. The business’s fifty day moving average is $32.85 and its 200-day moving average is $31.13.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $204.79 million for the quarter, compared to the consensus estimate of $201.25 million. Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The company’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. Sell-side analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

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

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp raised 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 valued at $26,000 after purchasing an additional 352 shares during the last quarter. Salomon & Ludwin LLC increased its position 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 valued at $31,000 after purchasing an additional 356 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Seacoast Banking Corporation of Florida in the 3rd quarter worth approximately $33,000. Advisory Services Network LLC bought a new stake in shares of Seacoast Banking Corporation of Florida in the 3rd quarter valued at $45,000. Finally, Smartleaf Asset Management LLC boosted its position in Seacoast Banking Corporation of Florida by 41.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 478 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SBCF shares. Zacks Research downgraded shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Piper Sandler restated a “neutral” rating and set a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Finally, Keefe, Bruyette & Woods lifted their target price 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. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus 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.