Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III Sells 8,000 Shares

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $31.13, for a total transaction of $249,040.00. Following the sale, the director directly owned 251,275 shares in the company, valued at $7,822,190.75. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Seacoast Banking Corporation of Florida Trading Down 1.3%

Seacoast Banking Corporation of Florida stock opened at $30.80 on Thursday. The stock has a market cap of $3.01 billion, a P/E ratio of 18.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.84. The firm’s fifty day moving average price is $30.72 and its 200-day moving average price is $28.48. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $32.33.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, February 14th. The financial services provider reported $0.55 earnings per share for the quarter. The business had revenue of $83.85 million for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.93% and a return on equity of 7.16%. Equities research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This represents a $0.76 annualized dividend and a yield of 2.5%. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 44.97%.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several institutional investors have recently bought and sold shares of SBCF. Natixis Advisors LLC raised its holdings in Seacoast Banking Corporation of Florida by 13.3% during the 3rd quarter. Natixis Advisors LLC now owns 53,177 shares of the financial services provider’s stock valued at $1,618,000 after buying an additional 6,223 shares during the period. Aptus Capital Advisors LLC boosted its stake in shares of Seacoast Banking Corporation of Florida by 15.2% during the third quarter. Aptus Capital Advisors LLC now owns 438,416 shares of the financial services provider’s stock valued at $13,341,000 after purchasing an additional 57,879 shares in the last quarter. Pitcairn Co. grew its stake in Seacoast Banking Corporation of Florida by 7.8% in the third quarter. Pitcairn Co. now owns 12,983 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 938 shares during the last quarter. GW&K Investment Management LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 5.5% during the third quarter. GW&K Investment Management LLC now owns 1,489,081 shares of the financial services provider’s stock valued at $45,313,000 after buying an additional 78,285 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Seacoast Banking Corporation of Florida by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,098,370 shares of the financial services provider’s stock valued at $94,284,000 after buying an additional 95,529 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating and set a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. Zacks Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.