Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Buys $132,760.00 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Joseph Shearouse III purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average cost of $33.19 per share, for a total transaction of $132,760.00. Following the completion of the acquisition, the director directly owned 35,500 shares of the company’s stock, valued at $1,178,245. This represents a 12.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF stock traded up $0.40 on Tuesday, hitting $33.63. 554,033 shares of the stock traded hands, compared to its average volume of 731,424. Seacoast Banking Corporation of Florida has a 1-year low of $21.36 and a 1-year high of $35.55. The company’s fifty day moving average is $33.03 and its 200 day moving average is $31.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $3.29 billion, a PE ratio of 21.02 and a beta of 0.93.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The firm had revenue of $204.80 million during the quarter, compared to the consensus estimate of $201.25 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up 53.0% compared to the same quarter last year. On average, equities research 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 47.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SBCF shares. Zacks Research cut shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Piper Sandler reissued a “neutral” rating and set a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.90.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of institutional investors and hedge funds have recently bought and sold shares of SBCF. North Reef Capital Management LP lifted its position in shares of Seacoast Banking Corporation of Florida by 16.8% during the fourth quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock worth $183,244,000 after purchasing an additional 837,075 shares in the last quarter. iSAM Funds UK Ltd boosted its position in Seacoast Banking Corporation of Florida by 42.2% in the 4th quarter. iSAM Funds UK Ltd now owns 19,238 shares of the financial services provider’s stock valued at $604,000 after buying an additional 5,713 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Seacoast Banking Corporation of Florida by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,650 shares of the financial services provider’s stock valued at $2,912,000 after buying an additional 2,660 shares during the period. Weiss Asset Management LP bought a new stake in shares of Seacoast Banking Corporation of Florida during the fourth quarter worth $818,000. Finally, Maryland State Retirement & Pension System lifted its stake in shares of Seacoast Banking Corporation of Florida by 14.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 14,168 shares of the financial services provider’s stock valued at $445,000 after acquiring an additional 1,779 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.