Seacoast Banking Co. of Florida (NASDAQ: SBCF – Get a rating) Director Dennis S. Hudson III sold 2,542 shares of the company in a trade dated Monday, August 15. The shares were sold at an average price of $35.48, for a total transaction of $90,190.16. Following the completion of the sale, the administrator now owns 169,698 shares of the company, valued at $6,020,885.04. The sale was disclosed in a legal filing with the SEC, available at the SEC website.
Seacoast Banking Co. of Florida Stock up 0.7%
Shares of NASDAQ SBCF traded at $0.25 in Tuesday’s midday session, hitting $35.85. The company’s shares had a trading volume of 517,316 shares, compared to an average volume of 345,550. The company has a leverage ratio of 0.05, a current ratio of 0.79 and a quick ratio of 0. .79. The company has a market capitalization of $2.20 billion, a price-earnings ratio of 19.03 and a beta of 1.12. The company’s fifty-day simple moving average is $33.78 and its two-hundred-day simple moving average is $34.40. Seacoast Banking Co. of Florida has a 1-year low of $29.28 and a 1-year high of $39.31.
Seacoast Banking Co. of Florida (NASDAQ: SBCF – Get a rating) last reported results on Thursday, July 28. The financial services provider reported earnings per share (EPS) of $0.53 for the quarter, meeting analyst consensus estimates of $0.53. Seacoast Banking Co. of Florida had a net margin of 29.70% and a return on equity of 9.80%. In the same quarter last year, the company posted EPS of $0.59. On average, stock analysts predict Florida’s Seacoast Banking Co. will post 1.89 EPS for the current year.
Seacoast Banking Co. of Florida Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.17 per share. The ex-dividend date is Wednesday, September 14. This represents an annualized dividend of $0.68 and a yield of 1.90%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 36.17%.
Analyst upgrades and downgrades
A number of equity research analysts have weighed in on SBCF shares. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a Monday, Aug. 1 research report. Truist Financial cut its price target on Seacoast Banking Co. of Florida from $42.00 to $39.00 and set a “buy” rating on the stock in a Wednesday July 6 research note. Finally, B. Riley lowered his price target on Seacoast Banking Co. of Florida from $36.00 to $34.00 in a Monday, July 11 research report. Three analysts rated the stock with a hold rating and two gave the company’s stock a buy rating. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average price target of $37.33.
Florida Seacoast Banking Co. Institutional Trading
A number of large investors have recently changed their positions in SBCF. Thrivent Financial for Lutherans increased its stake in Seacoast Banking Co. of Florida by 1.3% during Q2. Thrivent Financial for Lutherans now owns 1,429,982 shares of the financial services provider worth $47,247,000 after buying an additional 17,702 shares in the last quarter. Prudential Financial Inc. increased its stake in Seacoast Banking Co. of Florida by 2.5% in the second quarter. Prudential Financial Inc. now owns 64,010 shares of the financial services provider valued at $2,113,000 after buying an additional 1,536 shares last quarter. The Public Employees Retirement Association of Colorado acquired a new position in Seacoast Banking Co. of Florida in the second quarter, valued at approximately $411,000. Penn Capital Management Company LLC increased its stake in Seacoast Banking Co. of Florida by 389.8% in the second quarter. Penn Capital Management Company LLC now owns 296,557 shares of the financial services provider valued at $9,798,000 after purchasing an additional 236,015 shares in the last quarter. Finally, Occudo Quantitative Strategies LP increased its stake in Seacoast Banking Co. of Florida by 55.9% during the second quarter. Occudo Quantitative Strategies LP now owns 36,738 shares of the financial services provider worth $1,214,000 after buying an additional 13,171 shares last quarter. 79.87% of the shares are currently held by hedge funds and other institutional investors.
Company Profile Seacoast Banking Co. of Florida
Seacoast Banking Corporation of Florida operates as a bank holding company for Seacoast National Bank which provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management and mortgages; and brokerage and annuity services.
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