Seacoast Banking Co. of Florida (NASDAQ:SBCF) Declares Quarterly Dividend of $0.18

Seacoast Banking Co. of Florida (NASDAQ:SBCF) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.18 per share by the financial services provider on Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, June 14th.

Seacoast Banking Co. of Florida has a payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Seacoast Banking Co. of Florida to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 42.9%.

Seacoast Banking Co. of Florida Trading Up 1.4 %

Shares of SBCF stock opened at $22.79 on Friday. Seacoast Banking Co. of Florida has a 52-week low of $17.93 and a 52-week high of $29.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $24.15 and a two-hundred day simple moving average of $24.32. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 18.38 and a beta of 1.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 5.04% and a net margin of 13.54%. The firm had revenue of $128.16 million during the quarter, compared to the consensus estimate of $135.33 million. Research analysts anticipate that Seacoast Banking Co. of Florida will post 1.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SBCF. Raymond James increased their target price on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Truist Financial dropped their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average target price of $25.63.

Institutional Trading of Seacoast Banking Co. of Florida

A number of institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in Seacoast Banking Co. of Florida by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 155,410 shares of the financial services provider’s stock worth $4,423,000 after purchasing an additional 1,828 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Seacoast Banking Co. of Florida by 4.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,889 shares of the financial services provider’s stock worth $680,000 after purchasing an additional 923 shares in the last quarter. Pier Capital LLC lifted its stake in Seacoast Banking Co. of Florida by 73.4% in the 4th quarter. Pier Capital LLC now owns 280,329 shares of the financial services provider’s stock worth $7,978,000 after purchasing an additional 118,667 shares in the last quarter. Barclays PLC lifted its stake in Seacoast Banking Co. of Florida by 30.4% in the 4th quarter. Barclays PLC now owns 191,359 shares of the financial services provider’s stock worth $5,447,000 after purchasing an additional 44,624 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Seacoast Banking Co. of Florida by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider’s stock worth $171,619,000 after purchasing an additional 206,002 shares in the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.