Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Seacoast Banking Corporation of Florida (NASDAQ:SBCF)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.29 and traded as high as $31.00. Seacoast Banking Corporation of Florida shares last traded at $30.91, with a volume of 745,860 shares changing hands.

Analyst Upgrades and Downgrades

SBCF has been the subject of several research analyst reports. Zacks Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Piper Sandler reissued a “neutral” rating and set a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a research report on Monday. Finally, Keefe, Bruyette & Woods upped their price target on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Seacoast Banking Corporation of Florida currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Seacoast Banking Corporation of Florida Trading Up 1.1%

The firm has a fifty day moving average of $30.72 and a 200-day moving average of $28.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.84. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 18.29 and a beta of 1.01.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Monday, February 14th. The financial services provider reported $0.55 earnings per share for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%.The company had revenue of $83.85 million during the quarter. As a group, equities analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.5%. This is a positive change from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, December 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is 44.97%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its holdings in Seacoast Banking Corporation of Florida by 3.9% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 9,274 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 344 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Seacoast Banking Corporation of Florida by 69.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after buying an additional 352 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 21.9% during the second quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 366 shares in the last quarter. Truist Financial Corp increased its position in shares of Seacoast Banking Corporation of Florida by 2.2% during the second quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 373 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Seacoast Banking Corporation of Florida by 24.0% during the second quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 375 shares during the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.