Seacoast Banking Corporation of Florida (NASDAQ:SBCF) CEO Charles Shaffer Sells 10,367 Shares

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) CEO Charles Shaffer sold 10,367 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $30.88, for a total transaction of $320,132.96. Following the completion of the sale, the chief executive officer directly owned 174,113 shares in the company, valued at approximately $5,376,609.44. This represents a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Seacoast Banking Corporation of Florida Stock Performance

SBCF stock traded up $0.46 during mid-day trading on Wednesday, hitting $31.36. The company had a trading volume of 744,492 shares, compared to its average volume of 766,470. The firm has a market cap of $3.06 billion, a PE ratio of 20.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78. Seacoast Banking Corporation of Florida has a 12 month low of $23.48 and a 12 month high of $35.55. The stock’s fifty day moving average price is $31.13 and its two-hundred day moving average price is $31.78.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $205.07 million for the quarter, compared to analyst estimates of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. On average, analysts forecast that Seacoast Banking Corporation of Florida will post 2.49 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 2.4%. Seacoast Banking Corporation of Florida’s payout ratio is currently 50.00%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Finally, Piper Sandler lowered their price target on shares of Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.13.

Institutional Trading of Seacoast Banking Corporation of Florida

Hedge funds and other institutional investors have recently modified their holdings of the business. AlphaQuest LLC increased its holdings in Seacoast Banking Corporation of Florida by 213.5% during the 3rd quarter. AlphaQuest LLC now owns 44,789 shares of the financial services provider’s stock worth $1,363,000 after acquiring an additional 30,502 shares during the period. Global Trust Asset Management LLC increased its holdings in Seacoast Banking Corporation of Florida by 22,887.6% during the 3rd quarter. Global Trust Asset Management LLC now owns 83,445 shares of the financial services provider’s stock worth $2,539,000 after acquiring an additional 83,082 shares during the period. Deprince Race & Zollo Inc. increased its holdings in Seacoast Banking Corporation of Florida by 3.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,224,435 shares of the financial services provider’s stock worth $69,892,000 after acquiring an additional 76,192 shares during the period. Boothbay Fund Management LLC increased its holdings in Seacoast Banking Corporation of Florida by 48.2% during the 3rd quarter. Boothbay Fund Management LLC now owns 187,879 shares of the financial services provider’s stock worth $5,717,000 after acquiring an additional 61,119 shares during the period. Finally, Rafferty Asset Management LLC increased its holdings in Seacoast Banking Corporation of Florida by 64.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 108,063 shares of the financial services provider’s stock worth $3,288,000 after acquiring an additional 42,405 shares during the period. 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.