Seacoast Banking Co. of Florida (NASDAQ:SBCF) Releases Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Seacoast Banking Co. of Florida (NASDAQ:SBCF) issued its earnings results on Monday. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.15, Zacks reports. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ:SBCF traded up $0.47 during trading on Monday, reaching $27.20. The stock had a trading volume of 405,271 shares, compared to its average volume of 355,104. 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 has a 1-year low of $21.90 and a 1-year high of $31.68. The stock has a market cap of $2.32 billion, a PE ratio of 19.71 and a beta of 1.09. The business has a fifty day moving average price of $28.17 and a 200-day moving average price of $27.41.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.65%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 52.17%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total value 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 represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on SBCF shares. Truist Financial lowered their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Stephens increased 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 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 company. According to MarketBeat.com, Seacoast Banking Co. of Florida presently has an average rating of “Hold” and an average price target of $28.70.

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.