Seacoast Banking Corporation of Florida to Issue Quarterly Dividend of $0.19 (NASDAQ:SBCF)

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.19 per share by the financial services provider on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 15th.

Seacoast Banking Corporation of Florida has a dividend payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Seacoast Banking Corporation of Florida to earn $2.75 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 27.6%.

Seacoast Banking Corporation of Florida Price Performance

Shares of Seacoast Banking Corporation of Florida stock traded up $0.65 on Friday, hitting $33.70. 319,333 shares of the company traded hands, compared to its average volume of 835,978. Seacoast Banking Corporation of Florida has a 52 week low of $27.22 and a 52 week high of $35.55. The business has a 50-day simple moving average of $31.70 and a 200 day simple moving average of $31.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $3.28 billion, a P/E ratio of 22.15 and a beta of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $205.10 million during the quarter, compared to analyst estimates of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Research analysts expect that Seacoast Banking Corporation of Florida will post 2.51 earnings per share for the current fiscal year.

Insider Transactions at Seacoast Banking Corporation of Florida

In related news, Director Dennis S. Hudson III sold 4,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $34.00, for a total value of $136,000.00. Following the completion of the transaction, the director owned 216,854 shares of the company’s stock, valued at approximately $7,373,036. This trade represents a 1.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles M. Shaffer sold 10,367 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $30.88, for a total value of $320,132.96. Following the completion of the transaction, the chief executive officer owned 174,113 shares of the company’s stock, valued at approximately $5,376,609.44. This represents a 5.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,919 shares of company stock worth $942,733 in the last three months. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Several institutional investors have recently modified their holdings of SBCF. Allied Private Wealth LLC purchased a new position in shares of Seacoast Banking Corporation of Florida in the 2nd quarter worth approximately $118,000. Versant Capital Management Inc lifted its position in Seacoast Banking Corporation of Florida by 203.9% in the second quarter. Versant Capital Management Inc now owns 1,772 shares of the financial services provider’s stock worth $59,000 after buying an additional 1,189 shares during the last quarter. Bank of America Corp DE lifted its position in Seacoast Banking Corporation of Florida by 97.4% in the first quarter. Bank of America Corp DE now owns 464,064 shares of the financial services provider’s stock worth $14,056,000 after buying an additional 228,935 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Seacoast Banking Corporation of Florida by 21.1% during the first quarter. Janus Henderson Group PLC now owns 47,603 shares of the financial services provider’s stock worth $1,442,000 after buying an additional 8,300 shares during the period. Finally, Amundi boosted its stake in Seacoast Banking Corporation of Florida by 16.6% during the first quarter. Amundi now owns 15,647 shares of the financial services provider’s stock worth $474,000 after buying an additional 2,230 shares during the period. 81.77% of the stock is owned by 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.