Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) CEO Charles M. Shaffer sold 21,255 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares in the company, valued at $3,832,403.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Seacoast Banking Co. of Florida Stock Performance
SBCF stock opened at $29.81 on Thursday. The firm has a market cap of $2.55 billion, a PE ratio of 21.60 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $27.12 and a 200-day moving average of $25.61. Seacoast Banking Co. of Florida has a 12-month low of $21.23 and a 12-month high of $30.78.
Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current year.
Seacoast Banking Co. of Florida Announces Dividend
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 2.42%. Seacoast Banking Co. of Florida's payout ratio is presently 52.17%.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Sei Investments Co. boosted its holdings in Seacoast Banking Co. of Florida by 63.8% in the first quarter. Sei Investments Co. now owns 205,996 shares of the financial services provider's stock valued at $5,230,000 after acquiring an additional 80,220 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Seacoast Banking Co. of Florida by 24.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider's stock worth $29,710,000 after purchasing an additional 226,132 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Seacoast Banking Co. of Florida by 23.9% in the first quarter. Russell Investments Group Ltd. now owns 465,273 shares of the financial services provider's stock worth $11,813,000 after buying an additional 89,744 shares in the last quarter. Ceredex Value Advisors LLC boosted its position in shares of Seacoast Banking Co. of Florida by 24.2% during the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider's stock valued at $12,551,000 after buying an additional 91,900 shares during the last quarter. Finally, F M Investments LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the second quarter worth approximately $7,601,000. 81.77% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SBCF. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Stephens raised their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Monday, October 28th. Truist Financial cut their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, October 28th. Finally, Hovde Group downgraded Seacoast Banking Co. of Florida from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $29.00 to $31.00 in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of "Hold" and a consensus price target of $28.70.
Check Out Our Latest Stock Report on SBCF
Seacoast Banking Co. of Florida Company Profile
(
Get Free Report)
Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.
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