Seacoast Banking Co. of Florida (NASDAQ:SBCF) CEO Sells $645,301.80 in Stock

Seacoast Banking Co. of Florida (NASDAQ:SBCF) CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ:SBCF opened at $29.50 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of 21.38 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. Seacoast Banking Co. of Florida has a one year low of $21.23 and a one year high of $30.78. The business’s 50-day simple moving average is $27.23 and its 200 day simple moving average is $25.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $130.30 million for the quarter, compared to the consensus estimate of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. On average, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.44%. Seacoast Banking Co. of Florida’s payout ratio is currently 52.17%.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 412 shares in the last quarter. Innealta Capital LLC acquired a new stake in Seacoast Banking Co. of Florida during the 2nd quarter valued at approximately $55,000. KBC Group NV grew its stake in Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 768 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Seacoast Banking Co. of Florida during the 3rd quarter valued at approximately $121,000. Finally, FMR LLC grew its stake in Seacoast Banking Co. of Florida by 57.3% during the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,960 shares in the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Truist Financial cut their price objective 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. Stephens raised their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating 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 raised their price objective for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.70.

Seacoast Banking Co. of Florida Company Profile

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.