Key Points
- CEO sale: Seacoast CEO Charles Shaffer sold 10,367 shares on May 4 at an average of $30.88 for $320,132.96, trimming his stake by 5.62% to 174,113 shares valued at about $5.38M (SEC filing).
- Quarterly results: Seacoast reported Q1 EPS of $0.62 vs. $0.58 expected and revenue of $205.07M (revenue up 45.8% year‑over‑year); analysts forecast full‑year EPS of about $2.49.
- Dividend announced: The bank declared a $0.19 quarterly dividend (annualized $0.76) with an ex‑dividend date of June 15, implying a 2.4% yield and a 50% payout ratio.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) CEO Charles Shaffer sold 10,367 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $30.88, for a total value of $320,132.96. Following the completion of the sale, the chief executive officer owned 174,113 shares of the company's stock, valued at $5,376,609.44. The trade was a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Seacoast Banking Corporation of Florida Stock Up 1.5%
Shares of NASDAQ SBCF opened at $31.36 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 20.63 and a beta of 0.88. The stock has a 50 day moving average price of $31.11 and a 200 day moving average price of $31.79. Seacoast Banking Corporation of Florida has a 52-week low of $23.48 and a 52-week high of $35.55.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.04. The firm had revenue of $205.07 million during 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%.Seacoast Banking Corporation of Florida's quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. Sell-side analysts expect that Seacoast Banking Corporation of Florida will post 2.49 earnings per share for the current year.
Seacoast Banking Corporation of Florida Announces Dividend
The company 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 $0.19 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. Seacoast Banking Corporation of Florida's payout ratio is presently 50.00%.
Institutional Trading of Seacoast Banking Corporation of Florida
A number of hedge funds have recently bought and sold shares of the stock. World Investment Advisors lifted its holdings in 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 worth $274,000 after buying an additional 316 shares during the period. CWM LLC lifted its holdings 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 buying an additional 320 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings 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 buying an additional 344 shares during the period. Jones Financial Companies Lllp lifted its holdings 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 buying an additional 352 shares during the period. Finally, Salomon & Ludwin LLC lifted its holdings in shares of 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 purchasing an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on SBCF. Keefe, Bruyette & Woods boosted their price target on 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. Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 23rd. Finally, Piper Sandler lowered their target price on 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. Three research 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, Seacoast Banking Corporation of Florida has an average rating of "Moderate Buy" and a consensus target price of $33.13.
Read Our Latest Stock Analysis on Seacoast Banking Corporation of Florida
About Seacoast Banking Corporation of Florida
(
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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