Seacoast Banking Co. of Florida to Issue Quarterly Dividend of $0.18 (NASDAQ:SBCF)

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.18 per share by the financial services provider on Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, June 14th.

Seacoast Banking Co. of Florida has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Seacoast Banking Co. of Florida to earn $1.68 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 42.9%.

Seacoast Banking Co. of Florida Trading Up 1.4 %

SBCF opened at $22.79 on Friday. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 18.38 and a beta of 1.16. The stock’s 50 day moving average price is $24.15 and its 200-day moving average price is $24.32. Seacoast Banking Co. of Florida has a one year low of $17.93 and a one year high of $29.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The business had revenue of $128.16 million for the quarter, compared to the consensus estimate of $135.33 million. Seacoast Banking Co. of Florida had a net margin of 13.54% and a return on equity of 5.04%. On average, equities analysts forecast that Seacoast Banking Co. of Florida will post 1.47 EPS for the current year.

Analysts Set New Price Targets

SBCF has been the subject of a number of research reports. Raymond James boosted their price target on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Truist Financial lowered their price target on Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating for the company in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.63.

Institutional Trading of Seacoast Banking Co. of Florida

A number of large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Seacoast Banking Co. of Florida by 1.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 155,410 shares of the financial services provider’s stock worth $4,423,000 after buying an additional 1,828 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Seacoast Banking Co. of Florida by 4.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,889 shares of the financial services provider’s stock valued at $680,000 after purchasing an additional 923 shares during the last quarter. Pier Capital LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 73.4% during the 4th quarter. Pier Capital LLC now owns 280,329 shares of the financial services provider’s stock valued at $7,978,000 after purchasing an additional 118,667 shares during the last quarter. Barclays PLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 30.4% during the 4th quarter. Barclays PLC now owns 191,359 shares of the financial services provider’s stock valued at $5,447,000 after purchasing an additional 44,624 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Seacoast Banking Co. of Florida by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider’s stock valued at $171,619,000 after purchasing an additional 206,002 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

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.