Seacoast Banking Co. of Florida (NASDAQ:SBCF) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) in a report published on Thursday morning. The brokerage issued a sell rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on SBCF. Truist Financial decreased their target price on Seacoast Banking Co. of Florida from $38.00 to $37.00 and set a buy rating for the company in a report on Wednesday, February 1st. Raymond James lifted their target price on Seacoast Banking Co. of Florida from $34.00 to $35.00 and gave the stock an outperform rating in a report on Monday, January 30th.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF opened at $25.20 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $2.13 billion, a PE ratio of 15.09 and a beta of 1.11. The business has a 50-day simple moving average of $30.77 and a two-hundred day simple moving average of $31.42. Seacoast Banking Co. of Florida has a fifty-two week low of $20.66 and a fifty-two week high of $36.92.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 40.72%.

Insider Activity at Seacoast Banking Co. of Florida

In related news, Director Dennis S. Hudson III sold 8,078 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $33.01, for a total transaction of $266,654.78. Following the completion of the transaction, the director now directly owns 160,538 shares in the company, valued at $5,299,359.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Dennis S. Hudson III sold 8,078 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $33.01, for a total value of $266,654.78. Following the completion of the sale, the director now directly owns 160,538 shares in the company, valued at $5,299,359.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles M. Shaffer sold 4,697 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $30.71, for a total value of $144,244.87. Following the completion of the sale, the chief executive officer now owns 60,891 shares of the company’s stock, valued at $1,869,962.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,275 shares of company stock worth $681,880. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Seacoast Banking Co. of Florida

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Seacoast Banking Co. of Florida by 2.2% during the first quarter. BlackRock Inc. now owns 8,819,313 shares of the financial services provider’s stock worth $308,854,000 after purchasing an additional 193,486 shares in the last quarter. Capital World Investors increased its position in shares of Seacoast Banking Co. of Florida by 1.2% during the first quarter. Capital World Investors now owns 4,156,901 shares of the financial services provider’s stock worth $145,575,000 after purchasing an additional 50,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Seacoast Banking Co. of Florida by 0.3% during the third quarter. Vanguard Group Inc. now owns 4,116,385 shares of the financial services provider’s stock worth $124,437,000 after purchasing an additional 10,598 shares in the last quarter. State Street Corp increased its position in shares of Seacoast Banking Co. of Florida by 30.6% during the first quarter. State Street Corp now owns 3,042,733 shares of the financial services provider’s stock worth $106,557,000 after purchasing an additional 713,391 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Seacoast Banking Co. of Florida by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,885,932 shares of the financial services provider’s stock worth $58,823,000 after purchasing an additional 97,816 shares in the last quarter. 86.92% of the stock is currently owned by hedge funds and other institutional investors.

About Seacoast Banking Co. of Florida

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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.