Seacoast Banking Corporation of Florida (SBCF) to Issue Quarterly Dividend of $0.20 on December 31st

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, October 22nd. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.20 per share by the financial services provider on Thursday, December 31st. This represents a $0.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, December 15th. This is a 5.3% increase from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.19.

Seacoast Banking Corporation of Florida has a payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Seacoast Banking Corporation of Florida to earn $2.78 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 27.3%.

Seacoast Banking Corporation of Florida Price Performance

SBCF stock traded down $0.09 during mid-day trading on Friday, reaching $33.56. 760,680 shares of the company traded hands, compared to its average volume of 877,088. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $3.25 billion, a P/E ratio of 21.38 and a beta of 0.90. Seacoast Banking Corporation of Florida has a 52-week low of $28.69 and a 52-week high of $36.27. The company has a fifty day moving average price of $33.39 and a 200-day moving average price of $32.61.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 15.11% and a return on equity of 8.68%. The firm had revenue of $210.00 million for the quarter, compared to the consensus estimate of $209.84 million. As a group, analysts anticipate that Seacoast Banking Corporation of Florida will post 2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SBCF. Weiss Ratings reissued a “buy (b-)” rating on shares of Seacoast Banking Corporation of Florida in a report on Friday, September 25th. Raymond James Financial decreased their price target on shares of Seacoast Banking Corporation of Florida from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, October 13th. Finally, Piper Sandler increased their price objective on 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.50.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is a bank holding company headquartered in Stuart, Florida. It operates primarily through Seacoast National Bank, which provides banking and financial services to individuals, businesses and institutions across Florida.

The company offers checking and savings accounts, certificates of deposit, commercial and residential real estate loans, consumer lending, business financing, treasury management and other deposit services. Through affiliated operations, Seacoast also provides wealth management, investment advisory and mortgage-related services.

Seacoast National Bank traces its roots to 1926 and has expanded its presence throughout Florida, including the Treasure Coast, Central Florida and South Florida.