Dennis Hudson III Sells 12,000 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 12,000 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $34.15, for a total value of $409,800.00. Following the completion of the transaction, the director owned 206,869 shares of the company’s stock, valued at approximately $7,064,576.35. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Seacoast Banking Corporation of Florida Stock Performance

Shares of NASDAQ:SBCF traded down $0.14 during trading on Thursday, hitting $33.68. 754,361 shares of the company traded hands, compared to its average volume of 845,980. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $34.26 and its 200-day moving average is $32.20. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 21.45 and a beta of 0.84. Seacoast Banking Corporation of Florida has a one year low of $28.58 and a one year high of $36.27.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $210.00 million for the quarter, compared to the consensus estimate of $209.84 million. As a group, equities analysts predict that Seacoast Banking Corporation of Florida will post 2.55 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 48.41%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Piper Sandler lifted their price objective on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Seacoast Banking Corporation of Florida presently has an average rating of “Moderate Buy” and an average price target of $35.50.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBCF. Dimensional Fund Advisors LP increased its position in Seacoast Banking Corporation of Florida by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,150,592 shares of the financial services provider’s stock valued at $95,427,000 after acquiring an additional 123,273 shares during the period. Geode Capital Management LLC boosted its position in Seacoast Banking Corporation of Florida by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 2,279,078 shares of the financial services provider’s stock worth $71,623,000 after acquiring an additional 177,792 shares during the period. Deprince Race & Zollo Inc. grew its stake in shares of Seacoast Banking Corporation of Florida by 0.6% in the first quarter. Deprince Race & Zollo Inc. now owns 2,237,739 shares of the financial services provider’s stock worth $67,781,000 after purchasing an additional 13,304 shares in the last quarter. FJ Capital Management LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 12.5% in the fourth quarter. FJ Capital Management LLC now owns 1,361,677 shares of the financial services provider’s stock worth $42,784,000 after purchasing an additional 151,681 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 4.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,282,535 shares of the financial services provider’s stock valued at $40,297,000 after purchasing an additional 59,780 shares during the period. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is the bank holding company for Seacoast National Bank, a community-focused financial institution headquartered in Stuart, Florida. Founded in 1926, the company serves consumers, businesses, and institutions through a network of banking offices and digital channels across Florida.

Seacoast National Bank provides a range of financial services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, and business financing.