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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Shareholders of record on Friday, June 14th will be paid 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 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 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 Trading Up 1.4 %

Shares of SBCF stock opened at $22.79 on Friday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 18.38 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.07. Seacoast Banking Co. of Florida has a fifty-two week low of $17.93 and a fifty-two week high of $29.98. The firm’s 50 day moving average price is $24.15 and its two-hundred day moving average price is $24.32.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $135.33 million. On average, analysts anticipate that Seacoast Banking Co. of Florida will post 1.47 EPS for the current year.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several institutional investors have recently modified their holdings of SBCF. Fairfield Bush & CO. bought a new position in shares of Seacoast Banking Co. of Florida during the first quarter worth about $60,000. JPMorgan Chase & Co. grew its position in shares of Seacoast Banking Co. of Florida by 30.8% during the first quarter. JPMorgan Chase & Co. now owns 80,608 shares of the financial services provider’s stock worth $2,823,000 after acquiring an additional 19,003 shares during the last quarter. Raymond James & Associates grew its position in shares of Seacoast Banking Co. of Florida by 167.7% during the first quarter. Raymond James & Associates now owns 26,483 shares of the financial services provider’s stock worth $927,000 after acquiring an additional 16,591 shares during the last quarter. American Century Companies Inc. grew its position in shares of Seacoast Banking Co. of Florida by 20.1% during the first quarter. American Century Companies Inc. now owns 14,501 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 2,424 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Seacoast Banking Co. of Florida by 22.0% during the first quarter. US Bancorp DE now owns 4,025 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 726 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Raymond James lifted their price target on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Truist Financial lowered their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating for the company in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida currently has an average rating of “Hold” and a consensus target price of $25.63.

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.