Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $251,280.00 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $31.41, for a total transaction of $251,280.00. Following the sale, the director directly owned 220,854 shares in the company, valued at approximately $6,937,024.14. The trade was a 3.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seacoast Banking Corporation of Florida Trading Down 2.1%

Seacoast Banking Corporation of Florida stock traded down $0.67 during trading on Wednesday, hitting $30.60. The company had a trading volume of 1,550,768 shares, compared to its average volume of 760,503. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 20.13 and a beta of 0.86. Seacoast Banking Corporation of Florida has a 1-year low of $24.46 and a 1-year high of $35.55. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33. The company’s 50 day simple moving average is $31.07 and its 200-day simple moving average is $31.79.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $205.10 million for the quarter, compared to analyst estimates of $205.51 million. Seacoast Banking Corporation of Florida had a return on equity of 8.23% and a net margin of 14.42%.The company’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. As a group, analysts expect that Seacoast Banking Corporation of Florida will post 2.49 EPS 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, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 50.00%.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Seacoast Banking Corporation of Florida in the 4th quarter worth about $26,000. Jones Financial Companies Lllp boosted its holdings in shares of 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 valued at $26,000 after buying an additional 352 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of 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 valued at $31,000 after buying an additional 356 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Seacoast Banking Corporation of Florida in the 3rd quarter valued at about $33,000. Finally, Advisory Services Network LLC acquired a new position in shares of Seacoast Banking Corporation of Florida in the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Piper Sandler dropped their target price on shares of Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating for the company in a report on Thursday, April 30th. Weiss Ratings lowered shares of Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.50.

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.