Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Jacqueline Lynette Bradley Sells 2,279 Shares of Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Jacqueline Lynette Bradley sold 2,279 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $33.54, for a total transaction of $76,437.66. Following the sale, the director directly owned 7,000 shares in the company, valued at $234,780. The trade was a 24.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Seacoast Banking Corporation of Florida Stock Performance

SBCF traded up $0.55 on Friday, reaching $35.20. The stock had a trading volume of 13,150 shares, compared to its average volume of 707,954. The business’s 50-day moving average price is $32.78 and its two-hundred day moving average price is $31.07. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $35.46. The company has a market cap of $3.44 billion, a P/E ratio of 21.90 and a beta of 0.93.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The firm had revenue of $204.79 million during the quarter, compared to analyst estimates of $201.25 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was up 53.0% on a year-over-year basis. Sell-side analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 47.50%.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of hedge funds and other institutional investors have recently bought and sold shares of SBCF. Wellington Management Group LLP increased its stake in Seacoast Banking Corporation of Florida by 58.6% in the third quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock valued at $166,825,000 after purchasing an additional 2,025,988 shares during the last quarter. FJ Capital Management LLC grew its position in shares of Seacoast Banking Corporation of Florida by 194.6% in the 2nd quarter. FJ Capital Management LLC now owns 1,154,434 shares of the financial services provider’s stock valued at $31,885,000 after buying an additional 762,505 shares during the last quarter. Tributary Capital Management LLC raised its stake in Seacoast Banking Corporation of Florida by 99.4% during the 3rd quarter. Tributary Capital Management LLC now owns 1,459,462 shares of the financial services provider’s stock worth $44,411,000 after acquiring an additional 727,428 shares in the last quarter. Vanguard Group Inc. lifted its position in Seacoast Banking Corporation of Florida by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock valued at $222,732,000 after acquiring an additional 705,554 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Seacoast Banking Corporation of Florida during the third quarter worth about $14,865,000. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBCF has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday. Zacks Research cut Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Piper Sandler reiterated a “neutral” rating and issued a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Seacoast Banking Corporation of Florida presently has a consensus 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.