Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock: Insider Dennis Hudson III Sells 1,000 Shares

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Director Dennis Hudson III sold 1,000 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $34.31, for a total transaction of $34,310.00. Following the transaction, the director owned 8,356 shares in the company, valued at approximately $286,694.36. The trade was a 10.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Seacoast Banking Corporation of Florida Stock Down 1.0%

Shares of SBCF opened at $33.72 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. Seacoast Banking Corporation of Florida has a 12 month low of $28.69 and a 12 month high of $36.27. The firm’s 50 day moving average is $33.15 and its 200-day moving average is $32.51. The stock has a market capitalization of $3.25 billion, a PE ratio of 14.62 and a beta of 0.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $217.50 million during the quarter, compared to analysts’ expectations of $216.32 million. Seacoast Banking Corporation of Florida had a return on equity of 9.49% and a net margin of 16.27%. Equities research analysts forecast that Seacoast Banking Corporation of Florida will post 2.53 EPS for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.20 per share. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 2.4%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 44.71%.

Institutional Trading of Seacoast Banking Corporation of Florida

Several large investors have recently made changes to their positions in SBCF. GW&K Investment Management LLC raised its position in Seacoast Banking Corporation of Florida by 4.9% during the third quarter. GW&K Investment Management LLC now owns 1,511,089 shares of the financial services provider’s stock valued at $48,098,000 after purchasing an additional 70,034 shares in the last quarter. Private Wealth Asset Management LLC bought a new stake in Seacoast Banking Corporation of Florida during the third quarter worth $230,000. Voya Investment Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 8.6% in the 3rd quarter. Voya Investment Management LLC now owns 33,674 shares of the financial services provider’s stock valued at $1,072,000 after purchasing an additional 2,658 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Seacoast Banking Corporation of Florida by 8.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 91,966 shares of the financial services provider’s stock valued at $2,927,000 after purchasing an additional 7,535 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 6.5% in the 3rd quarter. HighTower Advisors LLC now owns 7,818 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 479 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SBCF. Raymond James Financial reaffirmed an “outperform” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, October 29th. Weiss Ratings raised Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Keefe, Bruyette & Woods raised their price target on Seacoast Banking Corporation of Florida from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Finally, Piper Sandler raised their price target on Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of “Moderate Buy” and an average target price of $36.50.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is a bank holding company whose principal subsidiary, Seacoast National Bank, provides banking and related financial services. The company serves individuals, businesses and organizations, with offerings that include deposit accounts, consumer and commercial lending, mortgage services, cash management and wealth management. Founded in 1926, Seacoast has grown from its roots in Stuart, Florida, and serves communities across the state through branches and digital banking services.