Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Joseph Forlenza Sells 12,635 Shares of Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Joseph Forlenza sold 12,635 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $32.90, for a total value of $415,691.50. Following the transaction, the executive vice president directly owned 42,392 shares in the company, valued at $1,394,696.80. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Seacoast Banking Corporation of Florida Trading Down 5.4%

Shares of NASDAQ SBCF opened at $31.12 on Friday. 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 has a one year low of $21.36 and a one year high of $35.55. The business has a 50-day moving average price of $33.13 and a two-hundred day moving average price of $31.63. The firm has a market capitalization of $3.04 billion, a PE ratio of 19.45 and a beta of 0.93.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $201.25 million. During the same period last year, the company earned $0.48 earnings per share. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 53.0% compared to the same quarter last year. As a group, analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. 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 large investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp raised its position in shares of 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 period. Aster Capital Management DIFC Ltd acquired a new position in Seacoast Banking Corporation of Florida in the 4th quarter valued at $26,000. Salomon & Ludwin LLC raised its holdings in Seacoast Banking Corporation of Florida by 59.3% in 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 bought a new position in Seacoast Banking Corporation of Florida in the 3rd quarter worth $33,000. Finally, Advisory Services Network LLC acquired a new position in Seacoast Banking Corporation of Florida during the 3rd quarter worth $45,000. Institutional investors own 81.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SBCF. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. Piper Sandler reaffirmed a “neutral” rating and set a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. 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 report on Monday, February 2nd. Finally, Zacks Research downgraded Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Two investment 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, Seacoast Banking Corporation of Florida currently has a consensus rating of “Hold” and a consensus price target 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.