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

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.18 per share by the financial services provider on Friday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Friday, June 14th.

Seacoast Banking Co. of Florida has a dividend payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Seacoast Banking Co. of Florida to earn $1.68 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 42.9%.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF traded up $0.32 during mid-day trading on Friday, hitting $22.79. The stock had a trading volume of 857,329 shares, compared to its average volume of 365,965. The company has a market cap of $1.94 billion, a PE ratio of 18.38 and a beta of 1.16. The company's fifty day simple moving average is $24.15 and its two-hundred day simple moving average is $24.35. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.07. Seacoast Banking Co. of Florida has a fifty-two week low of $17.93 and a fifty-two week high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $128.16 million during the quarter, compared to analyst estimates of $135.33 million. Seacoast Banking Co. of Florida had a return on equity of 5.04% and a net margin of 13.54%. On average, equities analysts expect that Seacoast Banking Co. of Florida will post 1.47 earnings per share for the current year.

Institutional Trading of Seacoast Banking Co. of Florida

Several hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in Seacoast Banking Co. of Florida by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 155,410 shares of the financial services provider's stock valued at $4,423,000 after acquiring an additional 1,828 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Seacoast Banking Co. of Florida by 4.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,889 shares of the financial services provider's stock valued at $680,000 after acquiring an additional 923 shares in the last quarter. Pier Capital LLC raised its stake in Seacoast Banking Co. of Florida by 73.4% during the 4th quarter. Pier Capital LLC now owns 280,329 shares of the financial services provider's stock valued at $7,978,000 after acquiring an additional 118,667 shares in the last quarter. Barclays PLC raised its stake in Seacoast Banking Co. of Florida by 30.4% during the 4th quarter. Barclays PLC now owns 191,359 shares of the financial services provider's stock valued at $5,447,000 after acquiring an additional 44,624 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Seacoast Banking Co. of Florida by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider's stock valued at $171,619,000 after acquiring an additional 206,002 shares in the last quarter. Institutional investors own 81.77% of the company's stock.

Wall Street Analysts Forecast Growth

SBCF has been the subject of a number of analyst reports. Raymond James boosted their price objective on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an "outperform" rating in a research report on Tuesday, January 30th. Truist Financial reduced their price objective on Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a "hold" rating for the company in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $25.63.

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.