Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III Sells 4,000 Shares

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $34.00, for a total transaction of $136,000.00. Following the transaction, the director owned 216,854 shares of the company’s stock, valued at $7,373,036. This trade represents a 1.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seacoast Banking Corporation of Florida Stock Down 2.1%

Shares of SBCF traded down $0.70 during midday trading on Thursday, reaching $33.28. The stock had a trading volume of 863,457 shares, compared to its average volume of 821,848. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 21.89 and a beta of 0.85. The company’s fifty day simple moving average is $31.07 and its two-hundred day simple moving average is $31.79. Seacoast Banking Corporation of Florida has a 1-year low of $27.22 and a 1-year high of $35.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.78 and a quick ratio of 0.78.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $205.10 million during the quarter, compared to the consensus estimate of $205.51 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was up 45.8% compared to the same quarter last year. Equities research analysts expect that Seacoast Banking Corporation of Florida will post 2.51 earnings per share for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 50.00%.

Analysts Set New Price Targets

SBCF has been the subject of several recent analyst reports. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Piper Sandler increased their price target on shares of Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the company a “neutral” rating in a research note on Monday, June 22nd. 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 Tuesday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Seacoast Banking Corporation of Florida by 58.6% in the third quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock valued at $166,825,000 after acquiring an additional 2,025,988 shares during the period. North Reef Capital Management LP grew its position in Seacoast Banking Corporation of Florida by 16.8% during the 4th quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock worth $183,244,000 after purchasing an additional 837,075 shares during the last quarter. Vanguard Group Inc. increased its position in Seacoast Banking Corporation of Florida by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock valued at $222,732,000 after acquiring an additional 705,554 shares during the period. Verition Fund Management LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the third quarter worth approximately $14,865,000. Finally, Emerald Advisers LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 163.2% in the first quarter. Emerald Advisers LLC now owns 504,363 shares of the financial services provider’s stock valued at $15,277,000 after acquiring an additional 312,712 shares in the last quarter. Institutional investors and hedge funds 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.