Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Joseph Forlenza Sells 12,635 Shares

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) EVP Joseph Forlenza sold 12,635 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $32.90, for a total value of $415,691.50. Following the transaction, the executive vice president owned 42,392 shares of the company’s stock, valued at $1,394,696.80. This trade represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Seacoast Banking Corporation of Florida Trading Down 5.4%

Seacoast Banking Corporation of Florida stock traded down $1.78 during mid-day trading on Friday, hitting $31.12. 1,066,277 shares of the stock were exchanged, compared to its average volume of 725,074. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 19.45 and a beta of 0.93. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $35.55. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. The firm’s fifty day simple moving average is $33.14 and its two-hundred day simple moving average is $31.61.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The firm had revenue of $204.80 million during the quarter, compared to the consensus estimate of $201.25 million. During the same period in the prior year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 53.0% compared to the same quarter last year. Analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 47.50%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in Seacoast Banking Corporation of Florida by 58.6% during the 3rd quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock valued at $166,825,000 after purchasing an additional 2,025,988 shares during the last quarter. North Reef Capital Management LP lifted its holdings in shares of Seacoast Banking Corporation of Florida by 16.8% in the fourth quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock valued at $183,244,000 after purchasing an additional 837,075 shares in the last quarter. FJ Capital Management LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 194.6% in the second quarter. FJ Capital Management LLC now owns 1,154,434 shares of the financial services provider’s stock valued at $31,885,000 after purchasing an additional 762,505 shares in the last quarter. Tributary Capital Management LLC boosted its position in shares of Seacoast Banking Corporation of Florida by 99.4% during the third quarter. Tributary Capital Management LLC now owns 1,459,462 shares of the financial services provider’s stock valued at $44,411,000 after buying an additional 727,428 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Seacoast Banking Corporation of Florida by 11.1% during the fourth quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock worth $222,732,000 after buying an additional 705,554 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

SBCF has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price target on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Finally, Zacks Research downgraded shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Seacoast Banking Corporation of Florida currently has an average rating of “Hold” and a consensus target price of $31.90.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.