Key Points
- Director Dennis Hudson III sold 12,000 SBCF shares at an average price of $34.15, generating $409,800. The transaction, conducted under a Rule 10b5-1 trading plan, reduced his direct holdings by 5.48% to 206,869 shares.
- Seacoast Banking reported quarterly earnings of $0.61 per share, slightly above the $0.60 analyst consensus, on revenue of $210 million. The company also declared a quarterly dividend of $0.19 per share, representing a 2.3% yield.
- Analysts maintain a “Moderate Buy” consensus with a $35.50 average price target, while institutional investors and hedge funds own 81.77% of the stock.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) Director Dennis Hudson III sold 12,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $34.15, for a total value of $409,800.00. Following the sale, the director directly owned 206,869 shares in the company, valued at $7,064,576.35. The trade was a 5.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Seacoast Banking Corporation of Florida Trading Down 0.5%
NASDAQ:SBCF opened at $33.65 on Friday. Seacoast Banking Corporation of Florida has a 1 year low of $28.58 and a 1 year high of $36.27. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 21.43 and a beta of 0.84. The business has a fifty day moving average of $34.28 and a 200-day moving average of $32.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.78 and a current ratio of 0.78.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The business had revenue of $210.00 million for the quarter, compared to analysts' expectations of $209.84 million. Seacoast Banking Corporation of Florida had a net margin of 15.11% and a return on equity of 8.68%. Equities analysts predict that Seacoast Banking Corporation of Florida will post 2.55 earnings per share for the current year.
Seacoast Banking Corporation of Florida Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.76 annualized dividend and a yield of 2.3%. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is presently 48.41%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on SBCF. Piper Sandler upped their price target on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. Weiss Ratings raised Seacoast Banking Corporation of Florida from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, June 30th. Finally, Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.50.
Get Our Latest Stock Analysis on Seacoast Banking Corporation of Florida
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of SBCF. Dimensional Fund Advisors LP boosted its holdings in Seacoast Banking Corporation of Florida by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,150,592 shares of the financial services provider's stock worth $95,427,000 after buying an additional 123,273 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 2,279,078 shares of the financial services provider's stock valued at $71,623,000 after buying an additional 177,792 shares in the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Seacoast Banking Corporation of Florida by 0.6% during the 1st quarter. Deprince Race & Zollo Inc. now owns 2,237,739 shares of the financial services provider's stock valued at $67,781,000 after acquiring an additional 13,304 shares during the last quarter. FJ Capital Management LLC boosted its stake in shares of Seacoast Banking Corporation of Florida by 12.5% during the 4th quarter. FJ Capital Management LLC now owns 1,361,677 shares of the financial services provider's stock worth $42,784,000 after acquiring an additional 151,681 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 4.9% in the 4th quarter. William Blair Investment Management LLC now owns 1,282,535 shares of the financial services provider's stock worth $40,297,000 after acquiring an additional 59,780 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.
About Seacoast Banking Corporation of Florida
(
Get Free Report)
Seacoast Banking Corporation of Florida is the bank holding company for Seacoast National Bank, a community-focused financial institution headquartered in Stuart, Florida. Founded in 1926, the company serves consumers, businesses, and institutions through a network of banking offices and digital channels across Florida.
Seacoast National Bank provides a range of financial services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, and business financing.
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