Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $32.38 and traded as high as $32.67. Seacoast Banking Corporation of Florida shares last traded at $32.49, with a volume of 836,338 shares trading hands.

Analyst Ratings Changes

Several brokerages have weighed in on SBCF. Piper Sandler raised their price objective on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Friday, September 25th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

Seacoast Banking Corporation of Florida Stock Down 1.7%

The stock has a market cap of $3.09 billion, a P/E ratio of 20.30 and a beta of 0.90. 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 stock’s fifty day simple moving average is $34.09 and its 200-day simple moving average is $32.41.

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

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 48.41%.

Insider Buying and Selling

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 12,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $34.15, for a total transaction of $409,800.00. Following the sale, the director owned 206,869 shares of the company’s stock, valued at $7,064,576.35. The trade was a 5.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Juliette Kleffel sold 14,831 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $34.31, for a total value of $508,851.61. Following the completion of the transaction, the executive vice president directly owned 78,321 shares of the company’s stock, valued at approximately $2,687,193.51. The trade was a 15.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several large investors have recently bought and sold shares of SBCF. Nykredit A S acquired a new position in shares of Seacoast Banking Corporation of Florida during the second quarter valued at approximately $30,000. Versant Capital Management Inc lifted its position in Seacoast Banking Corporation of Florida by 203.9% in the second quarter. Versant Capital Management Inc now owns 1,772 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,189 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Seacoast Banking Corporation of Florida by 244.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,069 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,468 shares in the last quarter. Allied Private Wealth LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the 2nd quarter valued at $118,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Seacoast Banking Corporation of Florida in the 2nd quarter worth $216,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is the bank holding company for Seacoast National Bank, a community-focused financial institution headquartered in Stuart, Florida. Through its banking subsidiary, the company provides financial products and services to consumers, businesses, and public-sector organizations across Florida.

Seacoast National Bank offers deposit accounts, residential and commercial real estate loans, consumer lending, business financing, treasury management, online and mobile banking, and other traditional banking services.