Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.36 and traded as high as $33.48. Seacoast Banking Corporation of Florida shares last traded at $33.23, with a volume of 995,872 shares changing hands.

Analysts Set New Price Targets

SBCF has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Piper Sandler restated a “neutral” rating and set a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.90.

Seacoast Banking Corporation of Florida Price Performance

The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 21.02 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The company’s fifty day moving average is $33.06 and its two-hundred day moving average is $31.40.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The firm had revenue of $204.80 million for the quarter, compared to analyst estimates of $201.25 million. During the same quarter last year, the company earned $0.48 earnings per share. The firm’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, March 13th. Seacoast Banking Corporation of Florida’s payout ratio is currently 47.50%.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, Director Joseph B. Shearouse III acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of $33.19 per share, for a total transaction of $132,760.00. Following the completion of the acquisition, the director owned 35,500 shares of the company’s stock, valued at approximately $1,178,245. This trade represents a 12.70% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jacqueline Lynette Bradley sold 2,279 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $33.54, for a total transaction of $76,437.66. Following the sale, the director directly owned 7,000 shares in the company, valued at approximately $234,780. The trade was a 24.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,117 shares of company stock worth $310,434 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in Seacoast Banking Corporation of Florida by 69.7% during the 3rd 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. Aster Capital Management DIFC Ltd acquired a new position in shares of Seacoast Banking Corporation of Florida during the fourth quarter worth about $26,000. Salomon & Ludwin LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 59.3% during the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after buying an additional 356 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in Seacoast Banking Corporation of Florida in the third quarter valued at approximately $33,000. Finally, Advisory Services Network LLC purchased a new position in Seacoast Banking Corporation of Florida in the third quarter worth approximately $45,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.