Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Declares Quarterly Dividend of $0.19

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.19 per share by the financial services provider on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 15th.

Seacoast Banking Corporation of Florida has a dividend payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Seacoast Banking Corporation of Florida to earn $2.75 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 27.6%.

Seacoast Banking Corporation of Florida Stock Up 1.7%

SBCF stock traded up $0.56 during mid-day trading on Friday, reaching $33.61. The company had a trading volume of 302,530 shares, compared to its average volume of 835,924. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 22.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.78 and a quick ratio of 0.78. Seacoast Banking Corporation of Florida has a 52 week low of $27.22 and a 52 week high of $35.55. The stock has a 50 day simple moving average of $31.70 and a two-hundred day simple moving average of $31.91.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The firm’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. As a group, equities analysts predict that Seacoast Banking Corporation of Florida will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Piper Sandler lifted their target price on Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

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.