Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Reaches New 12-Month High – Here’s Why

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $32.46 and last traded at $32.46, with a volume of 100642 shares trading hands. The stock had previously closed at $31.82.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SBCF shares. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Raymond James Financial set a $33.00 price target on shares of Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Piper Sandler reiterated a “neutral” rating and issued a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Seacoast Banking Corporation of Florida Stock Up 2.1%

The firm’s 50-day simple moving average is $30.66 and its 200 day simple moving average is $29.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $3.18 billion, a P/E ratio of 19.21 and a beta of 0.95.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%.The business had revenue of $83.85 million during the quarter. On average, research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.19 dividend. This is an increase from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, December 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 42.60%.

Insider Buying and Selling

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $31.13, for a total transaction of $249,040.00. Following the transaction, the director owned 251,275 shares of the company’s stock, valued at $7,822,190.75. The trade was a 3.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of large investors have recently added to or reduced their stakes in SBCF. Jones Financial Companies Lllp increased its stake in shares of Seacoast Banking Corporation of Florida by 69.7% during the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 352 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in Seacoast Banking Corporation of Florida in the 3rd quarter valued at $33,000. Advisory Services Network LLC bought a new position in Seacoast Banking Corporation of Florida during the 3rd quarter worth $45,000. Smartleaf Asset Management LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 41.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock worth $50,000 after buying an additional 478 shares in the last quarter. Finally, Caldwell Trust Co bought a new stake in shares of Seacoast Banking Corporation of Florida in the second quarter valued at about $51,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.