Insider Selling: Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Sells $508,851.61 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Juliette Kleffel sold 14,831 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $34.31, for a total value of $508,851.61. Following the transaction, the executive vice president directly owned 78,321 shares of the company’s stock, valued at approximately $2,687,193.51. This trade represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Seacoast Banking Corporation of Florida Price Performance

Seacoast Banking Corporation of Florida stock opened at $34.37 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.78 and a quick ratio of 0.78. Seacoast Banking Corporation of Florida has a 1-year low of $28.58 and a 1-year high of $36.27. The company has a market cap of $3.33 billion, a PE ratio of 21.89 and a beta of 0.85. The stock’s 50 day moving average price is $33.91 and its 200 day moving average price is $32.12.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $209.99 million for the quarter, compared to analyst estimates of $209.84 million. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%. On average, sell-side analysts predict that Seacoast Banking Corporation of Florida will post 2.55 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.2%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 48.41%.

Analyst Ratings Changes

SBCF has been the subject of several recent 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 note on Tuesday, June 30th. Piper Sandler increased their target price on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seacoast Banking Corporation of Florida has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Seacoast Banking Corporation of Florida in the 4th quarter worth about $26,000. Nykredit A S acquired a new stake in Seacoast Banking Corporation of Florida in the 2nd quarter valued at about $30,000. Measured Wealth Private Client Group LLC purchased a new position in Seacoast Banking Corporation of Florida during the 3rd quarter valued at about $33,000. Advisory Services Network LLC purchased a new position in Seacoast Banking Corporation of Florida during the 3rd quarter valued at about $45,000. Finally, Kestra Advisory Services LLC acquired a new position in Seacoast Banking Corporation of Florida during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

About Seacoast Banking Corporation of Florida

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.