Key Points
- Insider sale: Director Dennis Hudson III sold 8,000 shares on March 4 at an average price of $31.34 for $250,720, trimming his position by 3.27% to 236,854 shares (≈$7.42M).
- Earnings and growth: Seacoast missed Q4 EPS at $0.44 versus a $0.51 estimate, but revenue rose 53% year-over-year to $204.8M and analysts forecast about $1.71 EPS for the year.
- Market snapshot and dividend: The stock recently traded at $29.95 (50-day MA $33.06, 200-day MA $31.70) with a market cap of ~$2.93B and declared a $0.19 quarterly dividend (2.5% yield, 47.5% payout ratio).
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) Director Dennis Hudson III sold 8,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $31.34, for a total value of $250,720.00. Following the completion of the transaction, the director directly owned 236,854 shares of the company's stock, valued at approximately $7,423,004.36. This trade represents a 3.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Seacoast Banking Corporation of Florida Price Performance
NASDAQ SBCF traded down $1.02 during trading hours on Friday, reaching $29.95. The company's stock had a trading volume of 233,397 shares, compared to its average volume of 704,077. The firm's 50-day moving average price is $33.06 and its 200-day moving average price is $31.70. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $35.55. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 18.72 and a beta of 0.92. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.44 EPS 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 firm had revenue of $204.80 million during the quarter, compared to analysts' expectations of $201.25 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Seacoast Banking Corporation of Florida's quarterly revenue was up 53.0% on a year-over-year basis. On average, equities research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.
Seacoast Banking Corporation of Florida Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida's dividend payout ratio is currently 47.50%.
Analyst Ratings Changes
SBCF has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lifted 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 report on Monday, February 2nd. Finally, Zacks Research downgraded shares of Seacoast Banking Corporation of Florida from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.90.
Check Out Our Latest Report on Seacoast Banking Corporation of Florida
Hedge Funds Weigh In On Seacoast Banking Corporation of Florida
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Seacoast Banking Corporation of Florida by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider's stock valued at $222,732,000 after acquiring an additional 705,554 shares during the last quarter. North Reef Capital Management LP grew its stake in Seacoast Banking Corporation of Florida by 16.8% during the 4th quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider's stock worth $183,244,000 after buying an additional 837,075 shares during the last quarter. Wellington Management Group LLP raised its stake in Seacoast Banking Corporation of Florida by 58.6% in the third quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider's stock valued at $166,825,000 after buying an additional 2,025,988 shares during the last quarter. State Street Corp grew its stake in shares of Seacoast Banking Corporation of Florida by 1.4% during the fourth quarter. State Street Corp now owns 4,610,754 shares of the financial services provider's stock worth $144,870,000 after acquiring an additional 64,986 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Seacoast Banking Corporation of Florida by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,098,370 shares of the financial services provider's stock valued at $94,284,000 after acquiring an additional 95,529 shares in the last quarter. 81.77% of the stock is currently owned by 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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