Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Maryann Goebel Sells 3,419 Shares

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Maryann Goebel sold 3,419 shares of Seacoast Banking Corporation of Florida stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $34.23, for a total transaction of $117,032.37. Following the completion of the transaction, the director directly owned 6,000 shares of the company’s stock, valued at $205,380. The trade was a 36.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Seacoast Banking Corporation of Florida Price Performance

Shares of SBCF stock traded up $0.16 during mid-day trading on Thursday, hitting $34.65. 1,221,695 shares of the stock were exchanged, compared to its average volume of 736,998. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.46. 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 company has a market cap of $3.39 billion, a PE ratio of 21.66 and a beta of 0.93. The firm has a fifty day moving average of $32.72 and a 200 day moving average of $31.05.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The business had revenue of $204.79 million during the quarter, compared to analyst estimates of $201.25 million. During the same period in the previous year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 53.0% compared to the same quarter last year. Research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.2%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 47.50%.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBCF. AlphaQuest LLC grew its position in Seacoast Banking Corporation of Florida by 213.5% in the third 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 lifted its stake in shares of Seacoast Banking Corporation of Florida by 22,887.6% in the 3rd quarter. Global Trust Asset Management LLC now owns 83,445 shares of the financial services provider’s stock valued at $2,539,000 after purchasing an additional 83,082 shares during the last quarter. Elizabeth Park Capital Advisors Ltd. purchased a new position in shares of Seacoast Banking Corporation of Florida during the 2nd quarter worth $1,684,000. Deprince Race & Zollo Inc. increased its position in shares of Seacoast Banking Corporation of Florida by 7.2% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 2,148,243 shares of the financial services provider’s stock worth $65,371,000 after purchasing an additional 143,871 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Seacoast Banking Corporation of Florida by 33.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 534,877 shares of the financial services provider’s stock valued at $14,773,000 after buying an additional 132,796 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SBCF shares. Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods raised their target price on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Piper Sandler reiterated a “neutral” rating and set a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Two equities 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, the stock has a consensus rating of “Hold” and a consensus price target 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.