Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Acquires $132,760.00 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Joseph Shearouse III purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average cost of $33.19 per share, with a total value of $132,760.00. Following the completion of the purchase, the director owned 35,500 shares of the company’s stock, valued at $1,178,245. The trade was a 12.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Seacoast Banking Corporation of Florida Trading Up 1.2%

Seacoast Banking Corporation of Florida stock traded up $0.40 during mid-day trading on Tuesday, hitting $33.63. 554,033 shares of the company’s stock were exchanged, compared to its average volume of 731,424. The company’s 50 day simple moving average is $33.03 and its 200-day simple moving average is $31.36. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $3.29 billion, a P/E ratio of 21.02 and a beta of 0.93. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $204.80 million for the quarter, compared to the consensus estimate of $201.25 million. Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The company’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. On average, equities analysts anticipate 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 47.50%.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

Institutional investors and hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its position in shares of 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 valued at $26,000 after acquiring an additional 352 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Seacoast Banking Corporation of Florida in the fourth quarter valued at about $26,000. Salomon & Ludwin LLC lifted its position in 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 acquired a new stake in Seacoast Banking Corporation of Florida during the third quarter worth about $33,000. Finally, Advisory Services Network LLC bought a new position in Seacoast Banking Corporation of Florida in the 3rd quarter valued at about $45,000. 81.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Zacks Research downgraded Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Piper Sandler reissued a “neutral” rating and issued a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.90.

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.