Seacoast Banking Co. of Florida (SBCF) To Go Ex-Dividend on June 14th

Seacoast Banking Co. of Florida (NASDAQ:SBCF) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.18 per share by the financial services provider on Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, June 14th.

Seacoast Banking Co. of Florida has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Seacoast Banking Co. of Florida to earn $1.68 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 42.9%.

Seacoast Banking Co. of Florida Trading Up 1.4 %

Shares of SBCF stock opened at $22.79 on Friday. The company’s 50-day moving average price is $24.15 and its 200-day moving average price is $24.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 18.38 and a beta of 1.16. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $128.16 million for the quarter, compared to analyst estimates of $135.33 million. Seacoast Banking Co. of Florida had a net margin of 13.54% and a return on equity of 5.04%. As a group, equities analysts predict that Seacoast Banking Co. of Florida will post 1.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Seacoast Banking Co. of Florida by 1.4% in the second quarter. BlackRock Inc. now owns 12,220,075 shares of the financial services provider’s stock valued at $270,064,000 after buying an additional 169,421 shares during the last quarter. Vanguard Group Inc. increased its stake in Seacoast Banking Co. of Florida by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider’s stock worth $171,619,000 after purchasing an additional 206,002 shares during the period. State Street Corp increased its stake in Seacoast Banking Co. of Florida by 5.5% during the second quarter. State Street Corp now owns 4,636,065 shares of the financial services provider’s stock worth $102,457,000 after purchasing an additional 240,107 shares during the period. Capital World Investors increased its stake in Seacoast Banking Co. of Florida by 1.2% during the first quarter. Capital World Investors now owns 4,156,901 shares of the financial services provider’s stock worth $145,575,000 after purchasing an additional 50,000 shares during the period. Finally, North Reef Capital Management LP increased its stake in Seacoast Banking Co. of Florida by 8.0% during the fourth quarter. North Reef Capital Management LP now owns 4,130,000 shares of the financial services provider’s stock worth $117,540,000 after purchasing an additional 305,000 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Raymond James boosted their price target on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.63.

About Seacoast Banking Co. of Florida

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.