Seacoast Banking Corporation of Florida (SBCF) To Go Ex-Dividend on September 15th

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.19 per share by the financial services provider on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

Seacoast Banking Corporation of Florida has a payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Seacoast Banking Corporation of Florida to earn $2.75 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 27.6%.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ:SBCF opened at $33.49 on Friday. The firm has a 50 day moving average of $31.77 and a 200-day moving average of $31.92. The stock has a market capitalization of $3.26 billion, a PE ratio of 22.03 and a beta of 0.85. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33. Seacoast Banking Corporation of Florida has a 12 month low of $27.22 and a 12 month high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The business had revenue of $205.10 million for the quarter, compared to analyst estimates of $205.51 million. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities research analysts predict that Seacoast Banking Corporation of Florida will post 2.51 EPS for the current fiscal year.

Insider Activity at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, CEO Charles M. Shaffer sold 10,367 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $30.88, for a total transaction of $320,132.96. Following the transaction, the chief executive officer directly owned 174,113 shares in the company, valued at approximately $5,376,609.44. This trade represents a 5.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total transaction of $251,280.00. Following the transaction, the director directly owned 220,854 shares in the company, valued at $6,937,024.14. This represents a 3.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,919 shares of company stock worth $942,733 in the last quarter. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Seacoast Banking Corporation of Florida by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock worth $222,732,000 after acquiring an additional 705,554 shares during the period. North Reef Capital Management LP lifted its position in shares of Seacoast Banking Corporation of Florida by 16.8% during the 4th 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 buying an additional 837,075 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of 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 buying an additional 2,025,988 shares during the last quarter. State Street Corp grew its stake in shares of Seacoast Banking Corporation of Florida by 1.4% during the 4th quarter. State Street Corp now owns 4,610,754 shares of the financial services provider’s stock worth $144,870,000 after acquiring an additional 64,986 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Seacoast Banking Corporation of Florida by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,150,592 shares of the financial services provider’s stock worth $95,427,000 after acquiring an additional 123,273 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 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.