Insider Selling: Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Sells $508,851.61 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Juliette Kleffel sold 14,831 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $34.31, for a total transaction of $508,851.61. Following the sale, the executive vice president directly owned 78,321 shares in the company, valued at $2,687,193.51. This represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Seacoast Banking Corporation of Florida Price Performance

SBCF traded up $0.06 during trading on Friday, hitting $34.37. The company’s stock had a trading volume of 851,607 shares, compared to its average volume of 853,224. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 21.89 and a beta of 0.85. The firm’s 50 day moving average price is $33.83 and its two-hundred day moving average price is $32.13. Seacoast Banking Corporation of Florida has a 12 month low of $28.58 and a 12 month high of $36.27.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%.The company had revenue of $209.99 million during the quarter, compared to analyst estimates of $209.84 million. Sell-side analysts forecast that Seacoast Banking Corporation of Florida will post 2.55 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 48.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. World Investment Advisors grew its position in shares of Seacoast Banking Corporation of Florida by 3.6% during the 4th quarter. World Investment Advisors now owns 9,036 shares of the financial services provider’s stock worth $274,000 after buying an additional 316 shares during the period. CWM LLC lifted its holdings in Seacoast Banking Corporation of Florida by 3.0% in the fourth quarter. CWM LLC now owns 11,083 shares of the financial services provider’s stock valued at $348,000 after buying an additional 320 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Seacoast Banking Corporation of Florida by 1.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 45,543 shares of the financial services provider’s stock valued at $1,431,000 after buying an additional 471 shares during the period. Cetera Investment Advisers boosted its stake in Seacoast Banking Corporation of Florida by 4.2% in the second quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 513 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Seacoast Banking Corporation of Florida by 6.6% in the fourth quarter. Bank of Montreal Can now owns 9,296 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 574 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBCF has been the topic of a number of research reports. Piper Sandler upped their target price on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. 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 shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Seacoast Banking Corporation of Florida Company Profile

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.