Insider Selling: Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells 2,279 Shares of 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 sale, the director directly owned 7,000 shares of the company’s stock, valued at $234,780. This trade represents a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Seacoast Banking Corporation of Florida Trading Up 0.5%

NASDAQ SBCF traded up $0.16 during trading hours on Thursday, hitting $34.65. The company’s stock had a trading volume of 1,221,695 shares, compared to its average volume of 736,998. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $35.46. The firm has a market capitalization of $3.39 billion, a P/E ratio of 21.66 and a beta of 0.93. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average of $32.72 and a 200 day moving average of $31.05.

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 the consensus estimate of $0.51 by ($0.07). The company had revenue of $204.79 million during 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 firm’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share. Equities 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.19 per share. 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 2.2%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 47.50%.

Institutional Trading of Seacoast Banking Corporation of Florida

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Seacoast Banking Corporation of Florida by 41.5% during the first quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider’s stock worth $2,777,000 after acquiring an additional 31,636 shares during the period. AQR Capital Management LLC lifted its holdings in Seacoast Banking Corporation of Florida by 123.4% during the 1st quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock worth $2,133,000 after purchasing an additional 45,792 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Seacoast Banking Corporation of Florida by 4.5% in the 1st 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 buying an additional 2,187 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Seacoast Banking Corporation of Florida in the first quarter valued at about $4,817,000. Finally, Truist Financial Corp increased its position in Seacoast Banking Corporation of Florida by 2.2% during the second quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 373 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Analyst Ratings Changes

SBCF has been the topic of a number of research analyst reports. Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Piper Sandler reissued a “neutral” rating and issued a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. 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. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.90.

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.