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

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) declared a quarterly dividend on Friday, July 18th, Wall Street Journal reports. Shareholders of record on Monday, September 15th will be paid a dividend of 0.18 per share by the financial services provider on Tuesday, September 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Monday, September 15th.

Seacoast Banking Corporation of Florida has a dividend payout ratio of 33.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Seacoast Banking Corporation of Florida to earn $1.94 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 37.1%.

Seacoast Banking Corporation of Florida Stock Up 0.2%

Shares of SBCF stock traded up $0.05 during trading hours on Tuesday, reaching $29.10. 676,341 shares of the company's stock were exchanged, compared to its average volume of 452,175. The stock has a market cap of $2.50 billion, a PE ratio of 19.53 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $31.68. The stock's fifty day moving average price is $26.60 and its two-hundred day moving average price is $26.24.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The business had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.41 million. Seacoast Banking Corporation of Florida had a return on equity of 6.11% and a net margin of 15.44%. The business's revenue was up 12.0% compared to the same quarter last year. Research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBCF. Stephens lowered their price target on Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Hovde Group increased their target price on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 4th. Keefe, Bruyette & Woods upped their price target on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Finally, Wall Street Zen cut shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Corporation of Florida presently has a consensus rating of "Hold" and an average target price of $29.20.

Institutional Investors Weigh In On Seacoast Banking Corporation of Florida

A number of institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new position in shares of Seacoast Banking Corporation of Florida in the 1st quarter worth about $4,817,000. Royal Bank of Canada grew its holdings in shares of Seacoast Banking Corporation of Florida by 41.5% during the 1st quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider's stock worth $2,777,000 after acquiring an additional 31,636 shares during the period. AQR Capital Management LLC boosted its position in shares of Seacoast Banking Corporation of Florida by 123.4% during the first quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider's stock valued at $2,133,000 after purchasing an additional 45,792 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Seacoast Banking Corporation of Florida by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider's stock worth $1,293,000 after acquiring an additional 2,187 shares during the last quarter. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Corporation of Florida Company Profile

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.