Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.18 and traded as high as $34.59. Seacoast Banking Corporation of Florida shares last traded at $34.36, with a volume of 1,012,616 shares trading hands.

Wall Street Analysts Forecast Growth

SBCF has been the topic of a number of analyst reports. Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Piper Sandler boosted their target price on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Seacoast Banking Corporation of Florida presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Seacoast Banking Corporation of Florida Price Performance

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 21.56 and a beta of 0.84. The company’s 50 day moving average is $34.22 and its 200-day moving average is $32.19.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%.The firm had revenue of $210.00 million for the quarter, compared to analyst estimates of $209.84 million. Equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 2.55 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Seacoast Banking Corporation of Florida’s payout ratio is 48.41%.

Insider Activity

In other news, EVP Juliette Kleffel sold 14,831 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $34.31, for a total transaction of $508,851.61. Following the completion of the sale, the executive vice president owned 78,321 shares in the company, valued at approximately $2,687,193.51. This trade represents a 15.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Dennis Hudson, III sold 4,000 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $34.00, for a total transaction of $136,000.00. Following the sale, the director directly owned 216,854 shares of the company’s stock, valued at $7,373,036. The trade was a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of large investors have recently made changes to their positions in SBCF. Nykredit A S bought a new position in shares of Seacoast Banking Corporation of Florida during the second quarter worth approximately $30,000. Versant Capital Management Inc boosted its stake in shares of Seacoast Banking Corporation of Florida by 203.9% in the second quarter. Versant Capital Management Inc now owns 1,772 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,189 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Seacoast Banking Corporation of Florida by 244.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,069 shares of the financial services provider’s stock valued at $65,000 after buying an additional 1,468 shares during the period. Summer Road LLC acquired a new stake in Seacoast Banking Corporation of Florida during the fourth quarter worth approximately $98,000. Finally, Allied Private Wealth LLC acquired a new stake in Seacoast Banking Corporation of Florida during the second quarter worth approximately $118,000. Institutional investors own 81.77% of the company’s stock.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is the bank holding company for Seacoast National Bank, a community-focused financial institution headquartered in Stuart, Florida. Founded in 1926, the company serves consumers, businesses, and institutions through a network of banking offices and digital channels across Florida.

Seacoast National Bank provides a range of financial services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, and business financing.