Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $249,040.00 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Monday, November 10th. The stock was sold at an average price of $31.13, for a total value of $249,040.00. Following the transaction, the director directly owned 251,275 shares of the company’s stock, valued at approximately $7,822,190.75. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Seacoast Banking Corporation of Florida Trading Down 1.3%

Shares of SBCF traded down $0.40 during mid-day trading on Wednesday, reaching $30.80. The company had a trading volume of 584,833 shares, compared to its average volume of 537,524. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $32.33. The firm has a fifty day simple moving average of $30.72 and a 200-day simple moving average of $28.47. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 18.22 and a beta of 1.01. The company has a current ratio of 0.84, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%.The firm had revenue of $83.85 million for the quarter. On average, sell-side analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 15th. This is a positive change from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 44.97%.

Institutional Trading of Seacoast Banking Corporation of Florida

Hedge funds have recently added to or reduced their stakes in the business. FJ Capital Management LLC grew its position in Seacoast Banking Corporation of Florida by 194.6% in the 2nd quarter. FJ Capital Management LLC now owns 1,154,434 shares of the financial services provider’s stock worth $31,885,000 after purchasing an additional 762,505 shares during the last quarter. Tributary Capital Management LLC increased its stake in Seacoast Banking Corporation of Florida by 99.4% during the third quarter. Tributary Capital Management LLC now owns 1,459,462 shares of the financial services provider’s stock valued at $44,411,000 after acquiring an additional 727,428 shares during the period. Westwood Holdings Group Inc. increased its stake in Seacoast Banking Corporation of Florida by 27.7% during the first quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider’s stock valued at $73,834,000 after acquiring an additional 622,709 shares during the period. Nuveen LLC acquired a new position in Seacoast Banking Corporation of Florida in the 1st quarter valued at approximately $12,454,000. Finally, Brown Advisory Inc. lifted its position in shares of Seacoast Banking Corporation of Florida by 37.3% in the 2nd quarter. Brown Advisory Inc. now owns 1,255,807 shares of the financial services provider’s stock worth $34,685,000 after acquiring an additional 341,241 shares during the period. Institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SBCF. Piper Sandler reaffirmed a “neutral” rating and issued a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Raymond James Financial set a $33.00 target price on Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Zacks Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Seacoast Banking Corporation of Florida presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.