Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III Sells 1,000 Shares of Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 1,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $34.31, for a total value of $34,310.00. Following the sale, the director owned 8,356 shares in the company, valued at $286,694.36. The trade was a 10.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Seacoast Banking Corporation of Florida Trading Down 0.1%

Shares of NASDAQ SBCF opened at $34.07 on Wednesday. Seacoast Banking Corporation of Florida has a 12-month low of $28.69 and a 12-month high of $36.27. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 14.64 and a beta of 0.88. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $33.14 and its 200 day simple moving average is $32.51.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $217.50 million during the quarter, compared to the consensus estimate of $216.32 million. Seacoast Banking Corporation of Florida had a return on equity of 9.49% and a net margin of 16.27%. Equities research analysts expect that Seacoast Banking Corporation of Florida will post 2.53 EPS for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a $0.20 dividend. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 44.71%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Voya Investment Management LLC lifted its holdings in Seacoast Banking Corporation of Florida by 8.6% in the third quarter. Voya Investment Management LLC now owns 33,674 shares of the financial services provider’s stock worth $1,072,000 after purchasing an additional 2,658 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Seacoast Banking Corporation of Florida by 8.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 91,966 shares of the financial services provider’s stock valued at $2,927,000 after buying an additional 7,535 shares during the period. HighTower Advisors LLC increased its stake in Seacoast Banking Corporation of Florida by 6.5% during the 3rd quarter. HighTower Advisors LLC now owns 7,818 shares of the financial services provider’s stock valued at $249,000 after buying an additional 479 shares during the period. Bessemer Group Inc. increased its stake in Seacoast Banking Corporation of Florida by 57.3% during the 3rd quarter. Bessemer Group Inc. now owns 922 shares of the financial services provider’s stock valued at $29,000 after buying an additional 336 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of Seacoast Banking Corporation of Florida by 8.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 48,318 shares of the financial services provider’s stock worth $1,538,000 after buying an additional 3,957 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on SBCF shares. Raymond James Financial reissued an “outperform” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, October 29th. Weiss Ratings upgraded shares of Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Piper Sandler lifted their price target on 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, Keefe, Bruyette & Woods boosted their price objective on Seacoast Banking Corporation of Florida from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida has an average rating of “Moderate Buy” and a consensus price target of $36.50.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is a bank holding company whose principal subsidiary, Seacoast National Bank, provides banking and related financial services. The company serves individuals, businesses and organizations, with offerings that include deposit accounts, consumer and commercial lending, mortgage services, cash management and wealth management. Founded in 1926, Seacoast has grown from its roots in Stuart, Florida, and serves communities across the state through branches and digital banking services.