Seacoast Banking Co. of Florida (NASDAQ:SBCF) Plans $0.18 Quarterly Dividend

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.18 per share by the financial services provider on Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, June 14th.

Seacoast Banking Co. of Florida has a dividend payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Seacoast Banking Co. of Florida to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 42.9%.

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF stock opened at $22.79 on Friday. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $29.98. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 18.38 and a beta of 1.16. The stock has a fifty day simple moving average of $24.15 and a two-hundred day simple moving average of $24.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 5.04% and a net margin of 13.54%. The firm had revenue of $128.16 million during the quarter, compared to analysts’ expectations of $135.33 million. On average, analysts predict that Seacoast Banking Co. of Florida will post 1.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SBCF. Raymond James upped their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Truist Financial reduced their price target on Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.63.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FMR LLC increased its position in Seacoast Banking Co. of Florida by 24.8% during the 2nd quarter. FMR LLC now owns 1,659 shares of the financial services provider’s stock valued at $55,000 after buying an additional 330 shares in the last quarter. Fairfield Bush & CO. acquired a new position in Seacoast Banking Co. of Florida during the 1st quarter valued at about $60,000. Captrust Financial Advisors increased its position in Seacoast Banking Co. of Florida by 52.1% during the 1st quarter. Captrust Financial Advisors now owns 2,973 shares of the financial services provider’s stock valued at $104,000 after buying an additional 1,018 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Seacoast Banking Co. of Florida by 156.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,331 shares of the financial services provider’s stock valued at $73,000 after buying an additional 2,031 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its position in Seacoast Banking Co. of Florida by 11,612.5% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,748 shares of the financial services provider’s stock valued at $124,000 after buying an additional 3,716 shares in the last quarter. 81.77% of the stock is owned by institutional investors.

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.