Key Points
- Director Joseph Shearouse III purchased 4,000 shares of SBCF on Feb. 12 at an average price of $33.19 ($132,760), increasing his holdings 12.7% to 35,500 shares (about $1.18M), per an SEC filing.
- Seacoast missed Q4 EPS estimates ($0.44 vs. $0.51) despite revenue rising 53% year-over-year, and declared a $0.19 quarterly dividend (annualized $0.76, ~2.3% yield); analysts maintain a consensus "Hold" with a $31.90 target.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) Director Joseph Shearouse III acquired 4,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average cost of $33.19 per share, for a total transaction of $132,760.00. Following the completion of the purchase, the director owned 35,500 shares in the company, valued at $1,178,245. The trade was a 12.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Seacoast Banking Corporation of Florida Stock Performance
Shares of SBCF opened at $33.63 on Wednesday. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $35.55. The stock has a market cap of $3.29 billion, a P/E ratio of 21.02 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $33.06 and a two-hundred day moving average of $31.40.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data 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 $204.80 million for the quarter, compared to analysts' expectations of $201.25 million. During the same period last year, the business earned $0.48 earnings per share. The company's revenue for the quarter was up 53.0% on a year-over-year basis. As a group, research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.
Seacoast Banking Corporation of Florida Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 13th. Seacoast Banking Corporation of Florida's payout ratio is 47.50%.
Wall Street Analysts Forecast Growth
SBCF has been the subject of a number of recent research reports. Piper Sandler reiterated a "neutral" rating and set a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, February 2nd. 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. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Seacoast Banking Corporation of Florida presently has a consensus rating of "Hold" and a consensus target price of $31.90.
Get Our Latest Report on SBCF
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of SBCF. Abel Hall LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the fourth quarter worth approximately $223,000. North Reef Capital Management LP raised its stake in Seacoast Banking Corporation of Florida by 16.8% during the fourth quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider's stock worth $183,244,000 after purchasing an additional 837,075 shares during the period. iSAM Funds UK Ltd boosted its holdings in shares of Seacoast Banking Corporation of Florida by 42.2% in the 4th quarter. iSAM Funds UK Ltd now owns 19,238 shares of the financial services provider's stock valued at $604,000 after purchasing an additional 5,713 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Seacoast Banking Corporation of Florida by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,650 shares of the financial services provider's stock valued at $2,912,000 after purchasing an additional 2,660 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Seacoast Banking Corporation of Florida during the 4th quarter valued at $818,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.
Seacoast Banking Corporation of Florida Company Profile
(
Get Free Report)
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.
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