Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $250,720.00 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 8,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $31.34, for a total value of $250,720.00. Following the completion of the transaction, the director owned 236,854 shares of the company’s stock, valued at $7,423,004.36. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Seacoast Banking Corporation of Florida Stock Performance

SBCF traded down $0.51 during trading on Thursday, reaching $30.97. 557,369 shares of the company’s stock were exchanged, compared to its average volume of 715,483. The company has a market capitalization of $3.03 billion, a P/E ratio of 19.36 and a beta of 0.92. 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 business has a 50 day moving average price of $33.08 and a 200 day moving average price of $31.71. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced 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). 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 $204.80 million during the quarter, compared to analyst estimates of $201.25 million. During the same quarter in the prior year, the company posted $0.48 EPS. The company’s quarterly revenue was up 53.0% compared to the same quarter last year. As a group, analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 47.50%.

Institutional Trading of Seacoast Banking Corporation of Florida

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in Seacoast Banking Corporation of Florida by 58.6% during the 3rd quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock worth $166,825,000 after buying an additional 2,025,988 shares in the last quarter. North Reef Capital Management LP raised its stake in shares of Seacoast Banking Corporation of Florida by 16.8% in the fourth quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock worth $183,244,000 after acquiring an additional 837,075 shares during the last quarter. FJ Capital Management LLC raised its stake in shares of Seacoast Banking Corporation of Florida by 194.6% in the second quarter. FJ Capital Management LLC now owns 1,154,434 shares of the financial services provider’s stock worth $31,885,000 after acquiring an additional 762,505 shares during the last quarter. Tributary Capital Management LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 99.4% during the third quarter. Tributary Capital Management LLC now owns 1,459,462 shares of the financial services provider’s stock worth $44,411,000 after purchasing an additional 727,428 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Seacoast Banking Corporation of Florida by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock worth $222,732,000 after purchasing an additional 705,554 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Zacks Research cut Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Seacoast Banking Corporation of Florida currently has an average rating of “Hold” and an average target price 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.