Seacoast Banking Corporation of Florida (NASDAQ:SBCF – Get Free Report) Director Dennis Hudson III sold 12,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $34.15, for a total value of $409,800.00. Following the completion of the transaction, the director owned 206,869 shares in the company, valued at approximately $7,064,576.35. This trade represents a 5.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Seacoast Banking Corporation of Florida Stock Down 0.4%
NASDAQ SBCF traded down $0.14 during mid-day trading on Thursday, reaching $33.68. 754,361 shares of the company’s stock traded hands, compared to its average volume of 845,980. 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 fifty day simple moving average of $34.26 and a 200-day simple moving average of $32.20. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.35. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 21.45 and a beta of 0.84.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF – Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $210.00 million for the quarter, compared to the consensus estimate of $209.84 million. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%. As a group, equities research analysts expect that Seacoast Banking Corporation of Florida will post 2.55 EPS for the current year.
Seacoast Banking Corporation of Florida Announces Dividend
Institutional Investors Weigh In On Seacoast Banking Corporation of Florida
Several institutional investors and hedge funds have recently made changes to their positions in SBCF. Nykredit A S acquired a new position in Seacoast Banking Corporation of Florida in the second quarter worth $30,000. Versant Capital Management Inc raised its holdings in shares of Seacoast Banking Corporation of Florida by 203.9% during the second quarter. Versant Capital Management Inc now owns 1,772 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,189 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Seacoast Banking Corporation of Florida by 244.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,069 shares of the financial services provider’s stock worth $65,000 after buying an additional 1,468 shares during the last quarter. Summer Road LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the 4th quarter worth about $98,000. Finally, Allied Private Wealth LLC acquired a new position in shares of Seacoast Banking Corporation of Florida in the 2nd quarter valued at about $118,000. 81.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
SBCF has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note 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 research report on Tuesday, June 30th. Finally, Piper Sandler upped their target price on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.50.
View Our Latest Report on SBCF
About Seacoast Banking Corporation of Florida
Seacoast Banking Corporation of Florida is the bank holding company for Seacoast National Bank, a community-focused financial institution headquartered in Stuart, Florida. Founded in 1926, the company serves consumers, businesses, and institutions through a network of banking offices and digital channels across Florida.
Seacoast National Bank provides a range of financial services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, and business financing.
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