Seacoast Banking Corporation of Florida Declares Quarterly Dividend of $0.19 (NASDAQ:SBCF)

Key Points

• Seacoast declared a quarterly dividend of $0.19 per share payable June 30 to holders of record June 15, implying an annualized $0.76 payout and a yield of about 2.4% with a current payout ratio of 35% (analysts expect a lower ~27.5% payout next year based on $2.76 EPS).
• In the most recent quarter Seacoast reported $0.44 EPS, missing the $0.51 consensus, while revenue grew ~53% year‑over‑year.
• Insiders sold 29,752 shares worth about $976,846 in the last three months (insiders now own 1.5%), while institutional investors hold roughly 81.8% of the stock.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) declared a quarterly dividend on Thursday, April 23rd. Shareholders of record on Monday, June 15th will be given a dividend of 0.19 per share by the financial services provider on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, June 15th.

Seacoast Banking Corporation of Florida has a dividend payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Seacoast Banking Corporation of Florida to earn $2.76 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 27.5%.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF stock opened at $31.88 on Friday. The stock's 50-day moving average is $31.38 and its two-hundred day moving average is $31.76. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.77. Seacoast Banking Corporation of Florida has a 1 year low of $22.22 and a 1 year high of $35.55. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 20.05 and a beta of 0.91.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $204.80 million during the quarter, compared to analysts' expectations of $201.25 million. Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The firm's revenue for the quarter was up 53.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Analysts predict that Seacoast Banking Corporation of Florida will post 2.53 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Maryann Goebel sold 3,419 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $34.23, for a total value of $117,032.37. Following the sale, the director owned 6,000 shares of the company's stock, valued at $205,380. The trade was a 36.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dennis J. Arczynski sold 3,419 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $34.21, for a total transaction of $116,963.99. Following the transaction, the director directly owned 1,000 shares of the company's stock, valued at $34,210. This represents a 77.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,752 shares of company stock worth $976,846. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Seacoast Banking Corporation of Florida

Institutional investors have recently modified their holdings of the business. Peregrine Capital Management LLC purchased a new position in Seacoast Banking Corporation of Florida in the first quarter worth $4,752,000. Janney Montgomery Scott LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 12.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,804 shares of the financial services provider's stock worth $418,000 after purchasing an additional 1,494 shares during the period. 1492 Capital Management LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 33.3% during the 1st quarter. 1492 Capital Management LLC now owns 8,659 shares of the financial services provider's stock worth $262,000 after purchasing an additional 2,165 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Seacoast Banking Corporation of Florida by 37.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 16,108 shares of the financial services provider's stock valued at $488,000 after purchasing an additional 4,402 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter valued at about $1,302,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.

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