Joseph Forlenza Sells 12,635 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Joseph Forlenza sold 12,635 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $32.90, for a total value of $415,691.50. Following the transaction, the executive vice president owned 42,392 shares of the company’s stock, valued at approximately $1,394,696.80. The trade was a 22.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Seacoast Banking Corporation of Florida Stock Down 5.4%

NASDAQ:SBCF opened at $31.12 on Friday. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 19.45 and a beta of 0.93. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $35.55. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $33.13 and a 200-day simple moving average of $31.65.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The company had revenue of $204.80 million during the quarter, compared to analysts’ expectations of $201.25 million. During the same period in the prior year, the business earned $0.48 EPS. The company’s quarterly revenue was up 53.0% on a year-over-year basis. Analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, March 13th. Seacoast Banking Corporation of Florida’s payout ratio is currently 47.50%.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

A number of large investors have recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in shares of Seacoast Banking Corporation of Florida by 69.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 352 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Seacoast Banking Corporation of Florida during the 4th quarter valued at approximately $26,000. Salomon & Ludwin LLC increased its stake in Seacoast Banking Corporation of Florida by 59.3% during the 4th quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 356 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of Seacoast Banking Corporation of Florida in the third quarter worth $33,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the third quarter worth $45,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SBCF. Piper Sandler reaffirmed 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. Zacks Research downgraded Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, 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.