Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $250,720.00 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $31.34, for a total transaction of $250,720.00. Following the completion of the transaction, the director owned 236,854 shares of the company’s stock, valued at $7,423,004.36. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Seacoast Banking Corporation of Florida Stock Down 2.2%

Shares of SBCF opened at $30.29 on Friday. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $35.55. The company has a market cap of $2.97 billion, a P/E ratio of 18.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a 50 day simple moving average of $33.02 and a two-hundred day simple moving average of $31.73.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted 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). The business had revenue of $204.80 million for the quarter, compared to analyst estimates of $201.25 million. Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.Seacoast Banking Corporation of Florida’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period last year, the firm posted $0.48 EPS. Research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 47.50%.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC increased its position in shares of Seacoast Banking Corporation of Florida by 213.5% during the third quarter. AlphaQuest LLC now owns 44,789 shares of the financial services provider’s stock worth $1,363,000 after buying an additional 30,502 shares during the period. Global Trust Asset Management LLC lifted its holdings in Seacoast Banking Corporation of Florida by 22,887.6% in the third quarter. Global Trust Asset Management LLC now owns 83,445 shares of the financial services provider’s stock valued at $2,539,000 after buying an additional 83,082 shares during the period. Elizabeth Park Capital Advisors Ltd. bought a new stake in Seacoast Banking Corporation of Florida during the second quarter valued at $1,684,000. Deprince Race & Zollo Inc. boosted its position in Seacoast Banking Corporation of Florida by 7.2% during the third quarter. Deprince Race & Zollo Inc. now owns 2,148,243 shares of the financial services provider’s stock valued at $65,371,000 after acquiring an additional 143,871 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Seacoast Banking Corporation of Florida by 33.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 534,877 shares of the financial services provider’s stock worth $14,773,000 after acquiring an additional 132,796 shares during the period. Institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Zacks Research downgraded Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida has an average rating of “Hold” and an average target price of $31.90.

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.