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

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

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF opened at $29.62 on Friday. The company has a 50-day moving average of $27.17 and a 200-day moving average of $25.64. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 21.46 and a beta of 1.07. Seacoast Banking Co. of Florida has a 52 week low of $21.23 and a 52 week high of $30.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The firm had revenue of $130.30 million during the quarter, compared to the consensus estimate of $129.20 million. During the same period last year, the firm posted $0.37 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

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

Analyst Upgrades and Downgrades

SBCF has been the topic of several research reports. Hovde Group lowered shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $29.00 to $31.00 in a research note on Monday, July 29th. Stephens raised their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Truist Financial lowered their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.70.

Hedge Funds Weigh In On Seacoast Banking Co. of Florida

Several institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in Seacoast Banking Co. of Florida by 0.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 51,132 shares of the financial services provider’s stock valued at $1,363,000 after purchasing an additional 383 shares during the last quarter. GAMMA Investing LLC increased its position in Seacoast Banking Co. of Florida by 73.4% in the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 412 shares in the last quarter. Texas Permanent School Fund Corp increased its position in Seacoast Banking Co. of Florida by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 74,241 shares of the financial services provider’s stock valued at $1,755,000 after acquiring an additional 438 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Seacoast Banking Co. of Florida by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 460 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in Seacoast Banking Co. of Florida by 1.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 46,860 shares of the financial services provider’s stock valued at $1,190,000 after acquiring an additional 477 shares in the last quarter. 81.77% of the stock is owned by institutional investors.

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.