Seacoast Banking Co. of Florida (NASDAQ:SBCF) CEO Sells $645,301.80 in Stock

Seacoast Banking Co. of Florida (NASDAQ:SBCF) CEO Charles M. Shaffer sold 21,255 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the sale, the chief executive officer now owns 126,232 shares in the company, valued at $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Seacoast Banking Co. of Florida Stock Down 0.4 %

SBCF opened at $29.50 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.52 billion, a P/E ratio of 21.38 and a beta of 1.07. Seacoast Banking Co. of Florida has a 52 week low of $21.23 and a 52 week high of $30.78. The business’s fifty day simple moving average is $27.23 and its 200 day simple moving average is $25.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. As a group, equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.42 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s payout ratio is currently 52.17%.

Institutional Trading of Seacoast Banking Co. of Florida

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in Seacoast Banking Co. of Florida by 73.4% in the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after buying an additional 412 shares during the last quarter. Innealta Capital LLC acquired a new stake in Seacoast Banking Co. of Florida in the 2nd quarter worth about $55,000. KBC Group NV boosted its stake in Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after buying an additional 768 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Seacoast Banking Co. of Florida in the 3rd quarter worth about $121,000. Finally, FMR LLC boosted its stake in Seacoast Banking Co. of Florida by 57.3% in the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock worth $143,000 after buying an additional 1,960 shares during the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Analyst Upgrades and Downgrades

SBCF has been the topic of several recent research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Stephens upped their price target on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. Finally, Truist Financial reduced their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.70.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.