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

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 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 payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. 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 opened at $22.79 on Friday. The company has a market cap of $1.94 billion, a P/E ratio of 18.38 and a beta of 1.16. The stock has a fifty day moving average price of $24.15 and a 200 day moving average price of $24.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a 12 month low of $17.93 and a 12 month high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data 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). The company had revenue of $128.16 million for the quarter, compared to the consensus estimate of $135.33 million. Seacoast Banking Co. of Florida had a return on equity of 5.04% and a net margin of 13.54%. On average, research analysts forecast that Seacoast Banking Co. of Florida will post 1.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBCF. 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. Raymond James boosted their price target on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.63.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Profund Advisors LLC bought a new position in Seacoast Banking Co. of Florida during the first quarter valued at about $230,000. Janney Montgomery Scott LLC bought a new position in Seacoast Banking Co. of Florida during the fourth quarter valued at about $218,000. Commonwealth Equity Services LLC boosted its stake in Seacoast Banking Co. of Florida by 5.0% during the third quarter. Commonwealth Equity Services LLC now owns 6,933 shares of the financial services provider’s stock valued at $209,000 after buying an additional 331 shares in the last quarter. US Bancorp DE boosted its stake in Seacoast Banking Co. of Florida by 7.4% during the fourth quarter. US Bancorp DE now owns 6,266 shares of the financial services provider’s stock valued at $178,000 after buying an additional 432 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Seacoast Banking Co. of Florida by 22.0% during the second quarter. Ameritas Investment Partners Inc. now owns 6,961 shares of the financial services provider’s stock valued at $154,000 after buying an additional 1,254 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

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.