Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Sells $235,320.32 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP James Stallings III sold 7,552 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total value of $235,320.32. Following the completion of the transaction, the executive vice president directly owned 7,247 shares of the company’s stock, valued at approximately $225,816.52. This represents a 51.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF stock opened at $31.09 on Friday. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 20.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78. Seacoast Banking Corporation of Florida has a one year low of $23.48 and a one year high of $35.55. The company’s 50-day moving average is $31.08 and its 200 day moving average is $31.81.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $205.07 million during the quarter, compared to analysts’ expectations of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. Sell-side analysts expect that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, June 15th. Seacoast Banking Corporation of Florida’s payout ratio is presently 50.00%.

Wall Street Analyst Weigh In

Several analysts have commented on SBCF shares. Piper Sandler cut their target price on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Wall Street Zen downgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings raised Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.13.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake 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 buying an additional 31,636 shares during the last quarter. AQR Capital Management LLC increased its position in Seacoast Banking Corporation of Florida by 123.4% during the first quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock valued at $2,133,000 after acquiring an additional 45,792 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $1,293,000 after acquiring an additional 2,187 shares during the period. Jane Street Group LLC bought a new position in Seacoast Banking Corporation of Florida in the first quarter valued at about $4,817,000. Finally, Cetera Investment Advisers boosted its position in Seacoast Banking Corporation of Florida by 4.2% in the second quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 513 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Company Profile

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.