Jacqueline Lynette Bradley Sells 2,279 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Jacqueline Lynette Bradley sold 2,279 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $33.54, for a total transaction of $76,437.66. Following the sale, the director directly owned 7,000 shares of the company’s stock, valued at approximately $234,780. This represents a 24.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Seacoast Banking Corporation of Florida Trading Up 1.3%

Shares of NASDAQ:SBCF opened at $35.09 on Friday. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.55. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market cap of $3.43 billion, a P/E ratio of 21.93 and a beta of 0.93. The stock’s 50-day moving average is $32.85 and its 200-day moving average is $31.11.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $204.79 million during the quarter, compared to analyst estimates of $201.25 million. During the same period last year, the business earned $0.48 EPS. The business’s quarterly revenue was up 53.0% compared to the same quarter last year. Equities research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 47.50%.

Institutional Trading of Seacoast Banking Corporation of Florida

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its stake in Seacoast Banking Corporation of Florida by 69.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 352 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in Seacoast Banking Corporation of Florida by 59.3% in the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 356 shares during the period. Measured Wealth Private Client Group LLC bought a new position in shares of Seacoast Banking Corporation of Florida during the third quarter worth $33,000. Advisory Services Network LLC acquired a new position in shares of Seacoast Banking Corporation of Florida in the 3rd quarter valued at $45,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Seacoast Banking Corporation of Florida by 41.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock valued at $50,000 after buying an additional 478 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on SBCF shares. Keefe, Bruyette & Woods increased their price target on shares of 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. 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 issued a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Seacoast Banking Corporation of Florida presently has an average rating of “Hold” and a consensus price target of $31.90.

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.