Seacoast Banking Co. of Florida Declares Quarterly Dividend of $0.18 (NASDAQ:SBCF)

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Investors of record on Friday, December 13th will be given a dividend of 0.18 per share by the financial services provider on Tuesday, December 31st. This represents a $0.72 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, December 13th.

Seacoast Banking Co. of Florida has a dividend payout ratio of 45.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Seacoast Banking Co. of Florida to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 45.3%.

Seacoast Banking Co. of Florida Stock Down 2.1 %

Shares of NASDAQ:SBCF opened at $27.83 on Friday. The company’s fifty day moving average is $26.64 and its 200-day moving average is $25.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. Seacoast Banking Co. of Florida has a 52 week low of $19.04 and a 52 week high of $29.98. The company has a market capitalization of $2.36 billion, a PE ratio of 20.02 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The business had revenue of $201.99 million for the quarter, compared to the consensus estimate of $126.00 million. During the same period in the previous year, the business earned $0.37 EPS. Equities research analysts predict that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on SBCF shares. Truist Financial upped their price target on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $29.00 to $31.00 in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.88.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.