Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Juliette Kleffel Sells 14,831 Shares

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Juliette Kleffel sold 14,831 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $34.31, for a total value of $508,851.61. Following the transaction, the executive vice president directly owned 78,321 shares in the company, valued at $2,687,193.51. The trade was a 15.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Seacoast Banking Corporation of Florida Stock Performance

SBCF stock opened at $34.37 on Friday. The company has a market cap of $3.33 billion, a P/E ratio of 21.89 and a beta of 0.85. Seacoast Banking Corporation of Florida has a 1 year low of $28.58 and a 1 year high of $36.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s fifty day moving average price is $33.91 and its 200-day moving average price is $32.14.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%.The company had revenue of $209.99 million during the quarter, compared to analyst estimates of $209.84 million. On average, equities analysts forecast that Seacoast Banking Corporation of Florida will post 2.55 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.2%. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 48.41%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SBCF shares. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Finally, Piper Sandler increased their price target on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several large investors have recently added to or reduced their stakes in SBCF. William Blair Investment Management LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 4.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,282,535 shares of the financial services provider’s stock worth $40,297,000 after purchasing an additional 59,780 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Seacoast Banking Corporation of Florida by 34.2% during the 1st quarter. First Trust Advisors LP now owns 193,549 shares of the financial services provider’s stock valued at $5,863,000 after buying an additional 49,301 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Seacoast Banking Corporation of Florida by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock valued at $222,732,000 after buying an additional 705,554 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Seacoast Banking Corporation of Florida in the 1st quarter worth $1,302,000. Finally, Fifth Third Bancorp boosted its holdings in Seacoast Banking Corporation of Florida by 2,562.9% in the 1st quarter. Fifth Third Bancorp now owns 74,348 shares of the financial services provider’s stock worth $2,252,000 after buying an additional 71,556 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.

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.