Insider Selling: Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Sells $415,691.50 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Joseph Forlenza sold 12,635 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $32.90, for a total value of $415,691.50. Following the completion of the transaction, the executive vice president directly owned 42,392 shares in the company, valued at approximately $1,394,696.80. This represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Seacoast Banking Corporation of Florida Stock Performance

NASDAQ:SBCF opened at $31.12 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50-day simple moving average of $33.13 and a two-hundred day simple moving average of $31.67. The firm has a market capitalization of $3.04 billion, a PE ratio of 19.45 and a beta of 0.92. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). The company had revenue of $204.80 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 firm’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. Analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 2.4%. Seacoast Banking Corporation of Florida’s payout ratio is currently 47.50%.

Institutional Trading of Seacoast Banking Corporation of Florida

Several hedge funds have recently bought and sold shares of the stock. World Investment Advisors grew its position in shares of Seacoast Banking Corporation of Florida by 3.6% during the fourth quarter. World Investment Advisors now owns 9,036 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 316 shares in the last quarter. CWM LLC boosted its stake in Seacoast Banking Corporation of Florida by 3.0% during the fourth quarter. CWM LLC now owns 11,083 shares of the financial services provider’s stock valued at $348,000 after buying an additional 320 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Seacoast Banking Corporation of Florida by 3.9% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 9,274 shares of the financial services provider’s stock valued at $282,000 after buying an additional 344 shares during the last quarter. Jones Financial Companies Lllp grew 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. Finally, Salomon & Ludwin LLC increased 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 during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. Zacks Research lowered Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Piper Sandler restated a “neutral” rating and issued a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Finally, Keefe, Bruyette & Woods upped 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 investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.