Insider Selling: Seacoast Banking Co. of Florida (NASDAQ:SBCF) CEO Sells 21,255 Shares of Stock

Seacoast Banking Co. of Florida (NASDAQ:SBCF) CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the transaction, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock traded down $0.11 during mid-day trading on Wednesday, reaching $29.81. 392,398 shares of the company’s stock were exchanged, compared to its average volume of 414,540. The business’s fifty day simple moving average is $27.07 and its 200 day simple moving average is $25.58. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a one year low of $21.23 and a one year high of $30.78. The firm has a market capitalization of $2.55 billion, a PE ratio of 22.09 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The company had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. On average, sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Analyst Ratings Changes

SBCF has been the subject of several recent analyst reports. Stephens raised their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Truist Financial decreased their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 28th. Hovde Group cut Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $29.00 to $31.00 in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average target price of $28.70.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. lifted its holdings in Seacoast Banking Co. of Florida by 15.3% during the first quarter. Westwood Holdings Group Inc. now owns 3,121,900 shares of the financial services provider’s stock valued at $79,265,000 after purchasing an additional 414,037 shares during the last quarter. F M Investments LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at approximately $7,601,000. Vanguard Group Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock valued at $159,578,000 after buying an additional 254,887 shares in the last quarter. William Blair Investment Management LLC grew its stake in Seacoast Banking Co. of Florida by 24.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock valued at $29,710,000 after buying an additional 226,132 shares in the last quarter. Finally, abrdn plc raised its holdings in Seacoast Banking Co. of Florida by 10.9% during the 3rd quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock valued at $29,914,000 after acquiring an additional 110,582 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.