Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells 3,419 Shares

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Maryann Goebel sold 3,419 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $34.23, for a total transaction of $117,032.37. Following the sale, the director directly owned 6,000 shares in the company, valued at $205,380. This trade represents a 36.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Seacoast Banking Corporation of Florida Stock Up 0.5%

Shares of NASDAQ:SBCF traded up $0.16 during trading on Thursday, reaching $34.65. 1,221,695 shares of the stock traded hands, compared to its average volume of 736,998. The stock has a market cap of $3.39 billion, a P/E ratio of 21.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50-day moving average of $32.72 and a two-hundred day moving average of $31.05. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.46.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The business had revenue of $204.79 million for the quarter, compared to analysts’ expectations of $201.25 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. The business’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, sell-side analysts expect 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, March 13th. Seacoast Banking Corporation of Florida’s payout ratio is 47.50%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Piper Sandler restated a “neutral” rating and set a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. Keefe, Bruyette & Woods boosted their target price on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday. Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.90.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its holdings in shares of Seacoast Banking Corporation of Florida by 69.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after buying an additional 352 shares during the period. Salomon & Ludwin LLC raised its position in Seacoast Banking Corporation of Florida by 59.3% during the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 356 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Seacoast Banking Corporation of Florida in the 3rd quarter worth approximately $33,000. Advisory Services Network LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 3rd quarter worth approximately $45,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 41.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 478 shares during the period. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

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.