Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock Price Up 2.4% Following Dividend Announcement

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) traded up 2.4% during trading on Friday following a dividend announcement from the company. The stock traded as high as $25.40 and last traded at $25.66. 42,501 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 420,015 shares. The stock had previously closed at $25.05.

The newly announced dividend which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.77%. Seacoast Banking Co. of Florida's dividend payout ratio is 48.32%.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBCF. Stephens cut their target price on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Wall Street Zen downgraded shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $29.60.

Seacoast Banking Co. of Florida Trading Up 1.6%

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $24.23 and a 200 day moving average price of $26.64. The stock has a market capitalization of $2.23 billion, a PE ratio of 18.17 and a beta of 0.89.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The company had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.41 million. The company's quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Institutional Trading of Seacoast Banking Co. of Florida

Institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its holdings in Seacoast Banking Co. of Florida by 112.0% during the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider's stock worth $4,754,000 after purchasing an additional 94,242 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Seacoast Banking Co. of Florida by 24.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider's stock worth $270,000 after buying an additional 1,930 shares in the last quarter. KBC Group NV boosted its stake in shares of Seacoast Banking Co. of Florida by 33.7% in the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock worth $122,000 after buying an additional 1,121 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Seacoast Banking Co. of Florida by 0.3% in the 4th quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider's stock worth $7,048,000 after buying an additional 717 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Seacoast Banking Co. of Florida by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 410,632 shares of the financial services provider's stock valued at $11,305,000 after acquiring an additional 12,142 shares in the last quarter. Institutional investors own 81.77% of the company's stock.

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.