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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) announced a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid 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 dividend yield of 2.69%. The ex-dividend date is Friday, March 14th.

Seacoast Banking Co. of Florida has raised its dividend payment 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% meaning 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 Performance

NASDAQ:SBCF remained flat at $26.73 during midday trading on Friday. 273,583 shares of the company traded hands, compared to its average volume of 343,666. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68. The firm has a market capitalization 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. The stock has a fifty day moving average of $28.28 and a two-hundred day moving average of $27.35.

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

Insider Buying and Selling at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the transaction, the chief executive officer now owns 126,232 shares of the company’s stock, valued at $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SBCF has been the topic of a number of research reports. Stephens raised their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Truist Financial lowered their price objective on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Seacoast Banking Co. of Florida currently has an average rating of “Hold” and a consensus target price of $28.70.

Seacoast Banking Co. of Florida Company Profile

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.