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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Wednesday, September 11th, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.18 per share by the financial services provider on Monday, September 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, September 13th.

Seacoast Banking Co. of Florida has a payout ratio of 45.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Seacoast Banking Co. of Florida to earn $1.56 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 46.2%.

Seacoast Banking Co. of Florida Stock Down 1.5 %

SBCF stock opened at $26.17 on Thursday. The company has a market cap of $2.22 billion, a PE ratio of 18.69 and a beta of 1.08. The business has a 50-day simple moving average of $26.34 and a 200 day simple moving average of $24.59. Seacoast Banking Co. of Florida has a 52 week low of $19.04 and a 52 week high of $29.98. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $201.99 million during the quarter, compared to the consensus estimate of $126.00 million. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on SBCF shares. Truist Financial boosted their target price on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Hovde Group cut Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.50.

Insider Activity at Seacoast Banking Co. of Florida

In related news, Director Dennis S. Hudson III sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the sale, the director now directly owns 234,312 shares in the company, valued at $6,326,424. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

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.