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

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, January 22nd. Shareholders of record on Friday, March 13th will be given a dividend of 0.19 per share by the financial services provider on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, March 13th.

Seacoast Banking Corporation of Florida has a dividend payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Seacoast Banking Corporation of Florida to earn $1.94 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 39.2%.

Seacoast Banking Corporation of Florida Stock Performance

Shares of NASDAQ:SBCF traded down $0.59 during trading hours on Friday, hitting $34.19. The stock had a trading volume of 68,397 shares, compared to its average volume of 580,913. The stock’s fifty day simple moving average is $32.10 and its 200 day simple moving average is $30.74. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 20.26 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.84 and a current ratio of 0.84. Seacoast Banking Corporation of Florida has a 1-year low of $21.36 and a 1-year high of $35.46.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Monday, October 27th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%.The business had revenue of $158.57 million during the quarter, compared to the consensus estimate of $154.84 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue was up 20.7% on a year-over-year basis. Sell-side analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dennis S. Hudson III sold 8,000 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $31.13, for a total transaction of $249,040.00. Following the completion of the sale, the director directly owned 251,275 shares of the company’s stock, valued at $7,822,190.75. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is owned by company insiders.

Institutional Trading of Seacoast Banking Corporation of Florida

Several institutional investors and hedge funds have recently bought and sold shares of SBCF. Royal Bank of Canada boosted its holdings in shares of Seacoast Banking Corporation of Florida by 41.5% in the first quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider’s stock worth $2,777,000 after buying an additional 31,636 shares during the period. AQR Capital Management LLC boosted its stake in Seacoast Banking Corporation of Florida by 123.4% in the 1st quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock worth $2,133,000 after purchasing an additional 45,792 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Seacoast Banking Corporation of Florida by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 2,187 shares in the last quarter. Jane Street Group LLC purchased a new position in Seacoast Banking Corporation of Florida during the 1st quarter worth approximately $4,817,000. Finally, GAMMA Investing LLC raised its stake in Seacoast Banking Corporation of Florida by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 366 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.