Seacoast Banking Co. of Florida (NASDAQ:SBCF) EVP Sells $94,216.20 in Stock

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) EVP James C. Stallings III sold 3,855 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.44, for a total transaction of $94,216.20. Following the completion of the transaction, the executive vice president now directly owns 3,961 shares of the company's stock, valued at approximately $96,806.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Seacoast Banking Co. of Florida Trading Up 2.4 %

Shares of NASDAQ SBCF traded up $0.57 during trading hours on Monday, reaching $24.69. The stock had a trading volume of 494,574 shares, compared to its average volume of 415,487. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 17.64 and a beta of 1.17. The business's fifty day moving average price is $23.94 and its two-hundred day moving average price is $24.53. Seacoast Banking Co. of Florida has a 52-week low of $18.52 and a 52-week high of $29.98.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.92%. Seacoast Banking Co. of Florida's payout ratio is 51.43%.

Wall Street Analysts Forecast Growth

SBCF has been the subject of several analyst reports. Keefe, Bruyette & Woods lowered their price objective on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Thursday. Hovde Group dropped their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an "outperform" rating for the company in a research note on Monday, April 29th. Raymond James increased their target price on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an "outperform" rating in a research note on Tuesday, January 30th. Finally, Truist Financial decreased their price objective on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a "hold" rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $26.10.

Institutional Trading of Seacoast Banking Co. of Florida

A number of large investors have recently modified their holdings of SBCF. Wellington Management Group LLP boosted its holdings in shares of Seacoast Banking Co. of Florida by 31.7% in the third quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider's stock valued at $100,966,000 after purchasing an additional 1,106,724 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $10,179,000. abrdn plc boosted its holdings in shares of Seacoast Banking Co. of Florida by 40.7% in the third quarter. abrdn plc now owns 1,212,652 shares of the financial services provider's stock valued at $26,630,000 after purchasing an additional 350,726 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Seacoast Banking Co. of Florida by 20.6% in the fourth quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider's stock valued at $58,262,000 after purchasing an additional 349,147 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Seacoast Banking Co. of Florida by 11.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider's stock worth $84,814,000 after buying an additional 310,499 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company's stock.

About Seacoast Banking Co. of Florida

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.

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