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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.18 per share by the financial services provider on Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, March 14th.

Seacoast Banking Co. of Florida has raised its dividend payment by an average of 22.7% annually over the last three years. Seacoast Banking Co. of Florida has a dividend payout ratio of 38.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Seacoast Banking Co. of Florida to earn $1.59 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 45.3%.

Seacoast Banking Co. of Florida Price Performance

SBCF stock opened at $26.73 on Friday. The stock has a market cap of $2.28 billion, a PE ratio of 19.37 and a beta of 1.09. The firm’s 50-day simple moving average is $28.17 and its 200 day simple moving average is $27.39. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68. 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 (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. Seacoast Banking Co. of Florida’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 earnings per share. As a group, sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.39 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SBCF. Stephens raised their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Truist Financial lowered their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and an average target price of $28.70.

Insider Activity at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares of the company’s stock, valued at $3,832,403.52. This trade represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.

Seacoast Banking Co. 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.