Seacoast Banking Co. of Florida (SBCF) to Issue Quarterly Dividend of $0.18 on December 31st

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Investors of record on Friday, December 13th will be paid a dividend of 0.18 per share by the financial services provider on Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, December 13th.

Seacoast Banking Co. of Florida has a payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Seacoast Banking Co. of Florida to earn $1.59 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 45.3%.

Seacoast Banking Co. of Florida Price Performance

Shares of Seacoast Banking Co. of Florida stock opened at $27.83 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.36 billion, a PE ratio of 20.02 and a beta of 1.07. The business has a 50 day moving average of $26.64 and a 200 day moving average of $25.02. Seacoast Banking Co. of Florida has a 52 week low of $19.04 and a 52 week high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $201.99 million during the quarter, compared to the consensus estimate of $126.00 million. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. During the same quarter in the prior year, the company earned $0.37 earnings per share. As a group, equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SBCF shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Hovde Group downgraded Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Finally, Truist Financial increased their price objective on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.88.

About Seacoast Banking Co. of Florida

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.