Charles M. Shaffer Sells 21,255 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock

Seacoast Banking Co. of Florida (NASDAQ:SBCF) CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares in the company, valued at $3,832,403.52. This trade represents a 14.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ:SBCF opened at $29.62 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a fifty-two week low of $21.23 and a fifty-two week high of $30.78. The firm has a 50-day simple moving average of $27.17 and a 200 day simple moving average of $25.64. The company has a market cap of $2.53 billion, a PE ratio of 21.46 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The business had revenue of $130.30 million during the quarter, compared to the consensus estimate of $129.20 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.42 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 52.17%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. grew its position in Seacoast Banking Co. of Florida by 63.8% in the 1st quarter. Sei Investments Co. now owns 205,996 shares of the financial services provider’s stock worth $5,230,000 after purchasing an additional 80,220 shares during the last quarter. William Blair Investment Management LLC grew its position in Seacoast Banking Co. of Florida by 24.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock worth $29,710,000 after purchasing an additional 226,132 shares during the last quarter. Russell Investments Group Ltd. grew its position in Seacoast Banking Co. of Florida by 23.9% in the 1st quarter. Russell Investments Group Ltd. now owns 465,273 shares of the financial services provider’s stock worth $11,813,000 after purchasing an additional 89,744 shares during the last quarter. Ceredex Value Advisors LLC grew its position in Seacoast Banking Co. of Florida by 24.2% in the 3rd quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock worth $12,551,000 after purchasing an additional 91,900 shares during the last quarter. Finally, F M Investments LLC bought a new position in Seacoast Banking Co. of Florida in the 2nd quarter worth about $7,601,000. Institutional investors own 81.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Stephens lifted their price target on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Truist Financial dropped their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, Hovde Group lowered shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and upped their target price for the company from $29.00 to $31.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.70.

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.