Dennis Hudson III Sells 8,000 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) 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 Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total value of $251,280.00. Following the completion of the sale, the director owned 220,854 shares of the company’s stock, valued at $6,937,024.14. The trade was a 3.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seacoast Banking Corporation of Florida Stock Up 0.8%

Shares of NASDAQ SBCF opened at $30.84 on Friday. Seacoast Banking Corporation of Florida has a one year low of $24.78 and a one year high of $35.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s 50 day simple moving average is $31.06 and its two-hundred day simple moving average is $31.78. The stock has a market capitalization of $3.00 billion, a P/E ratio of 20.29 and a beta of 0.86.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The firm had revenue of $205.10 million for the quarter, compared to the consensus estimate of $205.51 million. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue was up 45.8% compared to the same quarter last year. As a group, analysts expect that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, June 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 50.00%.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its position in shares of Seacoast Banking Corporation of Florida by 69.7% in the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 352 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Seacoast Banking Corporation of Florida during the fourth quarter worth about $26,000. Salomon & Ludwin LLC boosted its holdings 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 purchasing an additional 356 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Seacoast Banking Corporation of Florida in the third quarter worth about $33,000. Finally, Advisory Services Network LLC bought a new stake in shares of Seacoast Banking Corporation of Florida in the third quarter worth about $45,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SBCF shares. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Piper Sandler decreased their price objective on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Finally, Weiss Ratings lowered Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $34.50.

About Seacoast Banking Corporation of Florida

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.