Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP James Stallings III Sells 7,552 Shares

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP James Stallings III sold 7,552 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total transaction of $235,320.32. Following the sale, the executive vice president owned 7,247 shares of the company’s stock, valued at approximately $225,816.52. This trade represents a 51.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Seacoast Banking Corporation of Florida Trading Down 1.0%

Seacoast Banking Corporation of Florida stock traded down $0.32 during trading on Thursday, reaching $31.04. The company had a trading volume of 862,741 shares, compared to its average volume of 767,575. Seacoast Banking Corporation of Florida has a 12-month low of $23.48 and a 12-month high of $35.55. The stock’s 50 day moving average price is $31.11 and its two-hundred day moving average price is $31.79. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 20.42 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 (NASDAQ:SBCF) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The company had revenue of $205.07 million during the quarter, compared to the consensus estimate of $205.51 million. During the same period in the previous year, the firm earned $0.38 earnings per share. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, equities analysts expect 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 paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, June 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is 50.00%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Piper Sandler reduced their price objective 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 note on Thursday, April 30th. Finally, Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.13.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of institutional investors and hedge funds have recently bought and sold shares of SBCF. Jones Financial Companies Lllp grew its position in 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 in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Seacoast Banking Corporation of Florida in the 4th quarter valued at about $26,000. Salomon & Ludwin LLC grew its position 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 valued at $31,000 after buying an additional 356 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in Seacoast Banking Corporation of Florida in the 3rd quarter valued at about $33,000. Finally, Advisory Services Network LLC bought a new position in Seacoast Banking Corporation of Florida in the 3rd quarter valued at about $45,000. 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.