Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $249,040.00 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 Monday, November 10th. The shares were sold at an average price of $31.13, for a total value of $249,040.00. Following the completion of the transaction, the director owned 251,275 shares of the company’s stock, valued at $7,822,190.75. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Seacoast Banking Corporation of Florida Stock Down 1.3%

SBCF traded down $0.40 during trading hours on Wednesday, hitting $30.80. 584,833 shares of the company’s stock were exchanged, compared to its average volume of 537,524. Seacoast Banking Corporation of Florida has a 1-year low of $21.36 and a 1-year high of $32.33. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 18.22 and a beta of 1.01. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock’s 50-day moving average is $30.72 and its two-hundred day moving average is $28.47.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. The firm had revenue of $83.85 million during the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.93% and a return on equity of 7.16%. Sell-side analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, December 15th. This is a positive change from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. Seacoast Banking Corporation of Florida’s dividend payout ratio is 44.97%.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of hedge funds have recently bought and sold shares of SBCF. Envestnet Portfolio Solutions Inc. grew its stake in Seacoast Banking Corporation of Florida by 3.9% in the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 9,274 shares of the financial services provider’s stock valued at $282,000 after buying an additional 344 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in 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 buying an additional 352 shares in the last quarter. GAMMA Investing LLC grew its holdings in Seacoast Banking Corporation of Florida by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after buying an additional 366 shares in the last quarter. Truist Financial Corp grew its stake in Seacoast Banking Corporation of Florida by 2.2% during the second quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 373 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Seacoast Banking Corporation of Florida by 24.0% in the 2nd quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 375 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBCF has been the topic of a number of recent analyst reports. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Finally, Piper Sandler restated a “neutral” rating and issued a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.