Seacoast Banking Co. of Florida (SBCF) to Issue Quarterly Dividend of $0.18 on December 31st

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Monday, December 9th,Zacks Dividends reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.18 per share by the financial services provider on Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, December 13th.

Seacoast Banking Co. of Florida has a payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Seacoast Banking Co. of Florida to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 45.3%.

Seacoast Banking Co. of Florida Trading Down 0.5 %

Shares of NASDAQ:SBCF opened at $29.49 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $2.52 billion, a P/E ratio of 21.37 and a beta of 1.08. The business’s 50-day moving average is $28.31 and its 200 day moving average is $26.42. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. Seacoast Banking Co. of Florida’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. On average, research analysts predict that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction dated 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 directly owns 126,232 shares in the company, valued at $3,832,403.52. This trade represents a 14.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Truist Financial cut 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 report on Monday, October 28th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Stephens lifted their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.