Key Points
- James Stallings III, EVP sold 7,552 shares of Seacoast on May 6 at an average $31.16 for about $235,320, leaving him with 7,247 shares — a reported 51.03% decrease in his ownership; the transaction was filed with the SEC.
- Seacoast beat Q1 EPS estimates ($0.62 vs. $0.58) with revenue up 45.8% year‑over‑year; the stock trades near $31, has a market cap of $3.03B and a P/E of 20.42.
- The company declared a quarterly dividend of $0.19 (annualized $0.76, yield ~2.4%, ex‑dividend June 15), and analysts carry a consensus "Moderate Buy" rating with a $33.13 price target (3 Buys, 3 Holds).
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) EVP James Stallings III sold 7,552 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $31.16, for a total value of $235,320.32. Following the completion of the sale, the executive vice president owned 7,247 shares of the company's stock, valued at $225,816.52. This trade represents a 51.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Seacoast Banking Corporation of Florida Stock Performance
Shares of NASDAQ SBCF opened at $31.04 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 20.42 and a beta of 0.88. The stock's fifty day moving average price is $31.08 and its two-hundred day moving average price is $31.81. Seacoast Banking Corporation of Florida has a one year low of $23.48 and a one year high of $35.55.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its earnings results 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 company had revenue of $205.07 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.38 earnings per share. On average, equities analysts forecast that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current year.
Seacoast Banking Corporation of Florida Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.19 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 2.4%. Seacoast Banking Corporation of Florida's payout ratio is 50.00%.
Analyst Upgrades and Downgrades
SBCF has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Seacoast Banking Corporation of Florida from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 23rd. Piper Sandler cut their price target on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Finally, Keefe, Bruyette & Woods increased their price target on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.13.
View Our Latest Stock Analysis on SBCF
Institutional Investors Weigh In On Seacoast Banking Corporation of Florida
Hedge funds and other institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 213.5% during the third quarter. AlphaQuest LLC now owns 44,789 shares of the financial services provider's stock worth $1,363,000 after buying an additional 30,502 shares during the last quarter. Global Trust Asset Management LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 22,887.6% in the 3rd quarter. Global Trust Asset Management LLC now owns 83,445 shares of the financial services provider's stock valued at $2,539,000 after acquiring an additional 83,082 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of Seacoast Banking Corporation of Florida by 3.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 2,224,435 shares of the financial services provider's stock valued at $69,892,000 after acquiring an additional 76,192 shares in the last quarter. Boothbay Fund Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 48.2% during the 3rd quarter. Boothbay Fund Management LLC now owns 187,879 shares of the financial services provider's stock valued at $5,717,000 after acquiring an additional 61,119 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in Seacoast Banking Corporation of Florida by 64.6% during the 3rd quarter. Rafferty Asset Management LLC now owns 108,063 shares of the financial services provider's stock worth $3,288,000 after acquiring an additional 42,405 shares during the last quarter. 81.77% of the stock is owned by institutional investors.
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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