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 Friday, January 24th,Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.18 per share by the financial services provider on Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, March 14th.

Seacoast Banking Co. of Florida has raised its dividend by an average of 22.7% annually over the last three years. Seacoast Banking Co. of Florida has a dividend payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

SBCF opened at $26.73 on Friday. The business’s fifty day simple moving average is $28.17 and its 200 day simple moving average is $27.37. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The firm has a market cap of $2.28 billion, a P/E ratio of 19.37 and a beta of 1.09. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The business had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.20 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.39 EPS for the current fiscal year.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the transaction, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at $3,832,403.52. The trade was a 14.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBCF. Truist Financial reduced their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Stephens lifted their price target on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.70.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.