Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Sets New 1-Year High – What’s Next?

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) hit a new 52-week high during trading on Thursday . The stock traded as high as $33.24 and last traded at $33.3950, with a volume of 212174 shares changing hands. The stock had previously closed at $32.36.

Analysts Set New Price Targets

SBCF has been the subject of a number of recent analyst reports. 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. Piper Sandler reaffirmed a “neutral” rating and issued a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Keefe, Bruyette & Woods increased their price target on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Raymond James Financial set a $33.00 price objective on Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Wednesday, October 8th. 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, the stock has an average rating of “Hold” and a consensus price target of $31.50.

Seacoast Banking Corporation of Florida Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.20 billion, a PE ratio of 19.36 and a beta of 0.92. The business has a 50-day moving average price of $31.58 and a 200 day moving average price of $30.39.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Monday, February 14th. The financial services provider reported $0.55 earnings per share for the quarter. The company had revenue of $83.85 million during the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%. As a group, research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.19 dividend. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.76 annualized dividend and a yield of 2.3%. Seacoast Banking Corporation of Florida’s payout ratio is 44.97%.

Insider Transactions at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 8,000 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $31.13, for a total transaction of $249,040.00. Following the sale, the director owned 251,275 shares in the company, valued at $7,822,190.75. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SBCF. Public Employees Retirement System of Ohio boosted its stake in shares of Seacoast Banking Corporation of Florida by 1.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 93,818 shares of the financial services provider’s stock valued at $2,591,000 after purchasing an additional 998 shares in the last quarter. Intech Investment Management LLC lifted its stake in Seacoast Banking Corporation of Florida by 36.5% in the first quarter. Intech Investment Management LLC now owns 91,340 shares of the financial services provider’s stock worth $2,350,000 after purchasing an additional 24,408 shares during the last quarter. ZWJ Investment Counsel Inc. purchased a new stake in Seacoast Banking Corporation of Florida during the second quarter valued at about $242,000. Elizabeth Park Capital Advisors Ltd. purchased a new stake in Seacoast Banking Corporation of Florida during the second quarter valued at about $1,684,000. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Seacoast Banking Corporation of Florida by 7.2% during the third quarter. Deprince Race & Zollo Inc. now owns 2,148,243 shares of the financial services provider’s stock valued at $65,371,000 after buying an additional 143,871 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.