Seacoast Banking Co. of Florida (NASDAQ:SBCF) Announces Quarterly Earnings Results

Seacoast Banking Co. of Florida (NASDAQ:SBCF) released its earnings results on Monday. The financial services provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.15, Zacks reports. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%.

Seacoast Banking Co. of Florida Trading Up 1.8 %

Shares of NASDAQ SBCF opened at $27.20 on Tuesday. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The business has a fifty day moving average price of $28.12 and a 200 day moving average price of $27.42. The stock has a market capitalization of $2.32 billion, a P/E ratio of 19.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.18 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.65%. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 52.17%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the sale, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on SBCF. Truist Financial reduced their price target 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 note on Monday, October 28th. 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.