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. Stockholders of record on Friday, June 14th will be paid a dividend of 0.18 per share by the financial services provider on Friday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, June 14th.

Seacoast Banking Co. of Florida has a payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ:SBCF opened at $22.79 on Friday. The company has a 50-day simple moving average of $24.15 and a 200-day simple moving average of $24.32. Seacoast Banking Co. of Florida has a one year low of $17.93 and a one year high of $29.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.85 and a current ratio of 0.85. 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 announced its earnings results on Thursday, January 25th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Seacoast Banking Co. of Florida had a net margin of 13.54% and a return on equity of 5.04%. The business had revenue of $128.16 million during the quarter, compared to analysts’ expectations of $135.33 million. On average, analysts predict that Seacoast Banking Co. of Florida will post 1.47 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 24.8% in the second quarter. FMR LLC now owns 1,659 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 330 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in shares of Seacoast Banking Co. of Florida in the first quarter valued at about $60,000. Captrust Financial Advisors lifted its holdings in shares of Seacoast Banking Co. of Florida by 52.1% in the first 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 in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Seacoast Banking Co. of Florida by 156.2% in the third 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 in the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of Seacoast Banking Co. of Florida by 11,612.5% in the second 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 in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Company Profile

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.