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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) announced a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.18 per share by the financial services provider on Monday, June 30th. This represents a $0.72 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, June 13th.

Seacoast Banking Co. of Florida has increased its dividend by an average of 22.7% annually over the last three years. Seacoast Banking Co. of Florida has a payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Seacoast Banking Co. 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 Co. of Florida Price Performance

Shares of SBCF opened at $22.95 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 16.05 and a beta of 0.97. Seacoast Banking Co. of Florida has a 52 week low of $21.36 and a 52 week high of $31.68. The stock has a 50 day moving average of $25.85 and a 200-day moving average of $27.27.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. As a group, analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

SBCF has been the subject of a number of recent research reports. Raymond James reaffirmed an “outperform” rating and set a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Friday, April 11th. Finally, Stephens upped their price objective on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.00.

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.