Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $76,437.66 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Jacqueline Lynette Bradley sold 2,279 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $33.54, for a total value of $76,437.66. Following the transaction, the director owned 7,000 shares in the company, valued at approximately $234,780. This trade represents a 24.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Seacoast Banking Corporation of Florida Price Performance

SBCF traded up $0.16 during trading on Thursday, hitting $34.65. 1,221,695 shares of the stock traded hands, compared to its average volume of 736,998. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $35.46. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 21.66 and a beta of 0.93. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50 day moving average price of $32.72 and a 200 day moving average price of $31.05.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $204.79 million for 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%.Seacoast Banking Corporation of Florida’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share. Equities research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal 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 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 dividend yield of 2.2%. Seacoast Banking Corporation of Florida’s payout ratio is 47.50%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SBCF shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods boosted 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 report on Monday. Zacks Research downgraded Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Seacoast Banking Corporation of Florida currently has a consensus rating of “Hold” and an average target price of $31.90.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of hedge funds have recently bought and sold shares of the company. World Investment Advisors raised its position in Seacoast Banking Corporation of Florida by 3.6% in the 4th quarter. World Investment Advisors now owns 9,036 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 316 shares during the period. CWM LLC raised its holdings in shares of Seacoast Banking Corporation of Florida by 3.0% in the fourth quarter. CWM LLC now owns 11,083 shares of the financial services provider’s stock worth $348,000 after buying an additional 320 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Seacoast Banking Corporation of Florida by 3.9% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 9,274 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 344 shares during the period. Jones Financial Companies Lllp increased its stake 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 worth $26,000 after buying an additional 352 shares during the period. Finally, Salomon & Ludwin LLC lifted its holdings in Seacoast Banking Corporation of Florida by 59.3% during 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. Institutional investors own 81.77% of the company’s stock.

About Seacoast Banking Corporation of Florida

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.