Seacoast Banking Co. of Florida Plans Quarterly Dividend of $0.18 (NASDAQ:SBCF)

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Wednesday, August 14th, Zacks reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.18 per share by the financial services provider on Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, September 13th.

Seacoast Banking Co. of Florida has a dividend payout ratio of 45.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Seacoast Banking Co. of Florida to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 44.7%.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF stock traded down $0.19 on Wednesday, reaching $25.42. The stock had a trading volume of 196,338 shares, compared to its average volume of 421,283. The stock has a market cap of $2.16 billion, a P/E ratio of 18.04 and a beta of 1.10. Seacoast Banking Co. of Florida has a 1 year low of $19.04 and a 1 year high of $29.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day simple moving average of $24.80 and a 200 day simple moving average of $24.31.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The company had revenue of $201.99 million for the quarter, compared to analysts’ expectations of $126.00 million. During the same period last year, the firm earned $0.37 EPS. Equities research analysts expect that Seacoast Banking Co. of Florida will post 1.43 EPS for the current year.

Analysts Set New Price Targets

SBCF has been the topic of a number of recent analyst reports. Truist Financial raised their price target on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods boosted their target price on Seacoast Banking Co. of Florida from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Hovde Group downgraded shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.50.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, Director Dennis S. Hudson III sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the transaction, the director now owns 234,312 shares in the company, valued at $6,326,424. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

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.