Seacoast Banking Corporation of Florida (NASDAQ:SBCF) CEO Sells $320,132.96 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) CEO Charles Shaffer sold 10,367 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $30.88, for a total transaction of $320,132.96. Following the completion of the sale, the chief executive officer owned 174,113 shares in the company, valued at $5,376,609.44. This represents a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Seacoast Banking Corporation of Florida Stock Up 0.2%

SBCF stock opened at $31.09 on Friday. The company’s 50 day simple moving average is $31.08 and its 200-day simple moving average is $31.81. The firm has a market capitalization of $3.02 billion, a PE ratio of 20.45 and a beta of 0.88. Seacoast Banking Corporation of Florida has a 12 month low of $23.48 and a 12 month 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 released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $205.07 million for the quarter, compared to analyst estimates of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The company’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. Equities analysts expect that Seacoast Banking Corporation of Florida will post 2.49 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.19 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 50.00%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 23rd. Wall Street Zen downgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Sandler reduced their price objective on shares of Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida has a consensus rating of “Moderate Buy” and an average price target of $33.13.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several institutional investors and hedge funds have recently modified their holdings of the company. World Investment Advisors lifted its stake 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 buying an additional 316 shares during the period. CWM LLC raised 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 worth $348,000 after purchasing an additional 320 shares during the period. Envestnet Portfolio Solutions Inc. raised 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 worth $282,000 after purchasing an additional 344 shares during the period. Jones Financial Companies Lllp raised its stake in Seacoast Banking Corporation of Florida by 69.7% during the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 352 shares during the period. Finally, Salomon & Ludwin LLC raised its stake in Seacoast Banking Corporation of Florida by 59.3% during the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 356 shares during the period. Hedge funds and other institutional investors 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.