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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.18 per share by the financial services provider on Friday, June 28th. This represents a $0.72 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, June 14th.

Seacoast Banking Co. of Florida has a dividend payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Seacoast Banking Co. of Florida to earn $1.68 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 42.9%.

Seacoast Banking Co. of Florida Trading Up 1.4 %

SBCF opened at $22.79 on Friday. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $29.98. The company has a 50-day simple moving average of $24.15 and a 200 day simple moving average of $24.32. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 18.38 and a beta of 1.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $128.16 million for the quarter, compared to the consensus estimate of $135.33 million. Seacoast Banking Co. of Florida had a return on equity of 5.04% and a net margin of 13.54%. Analysts predict that Seacoast Banking Co. of Florida will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBCF. FMR LLC raised its holdings in Seacoast Banking Co. of Florida by 147.7% in the 1st quarter. FMR LLC now owns 2,088 shares of the financial services provider’s stock valued at $49,000 after buying an additional 1,245 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in Seacoast Banking Co. of Florida during the 1st quarter valued at approximately $60,000. Tower Research Capital LLC TRC increased its position in Seacoast Banking Co. of Florida by 156.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,331 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 2,031 shares during the period. Captrust Financial Advisors increased its position in Seacoast Banking Co. of Florida by 52.1% during the 1st quarter. Captrust Financial Advisors now owns 2,973 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,018 shares during the period. Finally, Point72 Hong Kong Ltd increased its position in Seacoast Banking Co. of Florida by 11,612.5% during the 2nd quarter. Point72 Hong Kong Ltd now owns 3,748 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 3,716 shares during the period. Institutional investors own 81.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Raymond James increased their target price on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Truist Financial dropped their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating for the company in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and a consensus target price of $25.63.

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.