Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $116,963.99 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Arczynski sold 3,419 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $34.21, for a total transaction of $116,963.99. Following the transaction, the director directly owned 1,000 shares of the company’s stock, valued at $34,210. This trade represents a 77.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Seacoast Banking Corporation of Florida Trading Up 1.3%

Shares of SBCF stock opened at $35.09 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 21.93 and a beta of 0.93. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $35.55. The stock’s 50-day moving average price is $32.85 and its 200-day moving average price is $31.13.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). The firm 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 business’s revenue was up 53.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 EPS. Equities research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 2.2%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 47.50%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp lifted its holdings in Seacoast Banking Corporation of Florida by 69.7% during 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 in the last quarter. Salomon & Ludwin LLC grew its stake in Seacoast Banking Corporation of Florida by 59.3% in the 4th quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 356 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Seacoast Banking Corporation of Florida during the third quarter worth approximately $33,000. Advisory Services Network LLC bought a new stake in shares of Seacoast Banking Corporation of Florida during the third quarter valued at approximately $45,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 41.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 478 shares during the period. 81.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SBCF has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of 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. Piper Sandler restated a “neutral” rating and set a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Finally, Zacks Research downgraded Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.90.

About Seacoast Banking Corporation of Florida

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.