Insider Selling: Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Sells $249,040.00 in Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 8,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Seacoast Banking Corporation of Florida Stock Performance

SBCF stock opened at $30.46 on Friday. The company has a 50 day moving average price of $30.67 and a 200 day moving average price of $28.54. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $32.33. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.85. The stock has a market capitalization of $2.98 billion, a PE ratio of 18.02 and a beta of 1.01.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%.The company had revenue of $83.85 million during the quarter. Analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

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

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

Several institutional investors and hedge funds have recently made changes to their positions in SBCF. Jones Financial Companies Lllp raised its stake in Seacoast Banking Corporation of Florida by 69.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock worth $26,000 after buying an additional 352 shares during the period. IFP Advisors Inc increased its holdings in shares of Seacoast Banking Corporation of Florida by 343.9% in the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 994 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Seacoast Banking Corporation of Florida by 41.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 478 shares during the period. Caldwell Trust Co bought a new position in shares of Seacoast Banking Corporation of Florida during the 2nd quarter valued at about $51,000. Finally, Assetmark Inc. lifted its holdings in shares of Seacoast Banking Corporation of Florida by 24.0% during the 2nd quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 375 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SBCF shares. Keefe, Bruyette & Woods lifted their price target on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Raymond James Financial set a $33.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.