Seacoast Banking Co. of Florida (SBCF) to Issue Quarterly Dividend of $0.18 on June 28th

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, April 18th, Zacks reports. Shareholders 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 yield of 3.16%. The ex-dividend date 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. Equities 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 Stock Performance

Shares of NASDAQ SBCF opened at $22.79 on Friday. Seacoast Banking Co. of Florida has a one year low of $17.93 and a one year high of $29.98. The business’s 50-day moving average price is $24.15 and its two-hundred day moving average price is $24.32. The company has a market capitalization of $1.94 billion, a P/E ratio of 18.38 and a beta of 1.16. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.85 and a quick ratio of 0.85.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

A number of large investors have recently bought and sold shares of SBCF. Fairfield Bush & CO. bought a new stake in Seacoast Banking Co. of Florida during the 1st quarter worth approximately $60,000. JPMorgan Chase & Co. grew its position in Seacoast Banking Co. of Florida by 30.8% during the 1st quarter. JPMorgan Chase & Co. now owns 80,608 shares of the financial services provider’s stock worth $2,823,000 after acquiring an additional 19,003 shares during the last quarter. Raymond James & Associates grew its position in Seacoast Banking Co. of Florida by 167.7% during the 1st quarter. Raymond James & Associates now owns 26,483 shares of the financial services provider’s stock worth $927,000 after acquiring an additional 16,591 shares during the last quarter. American Century Companies Inc. grew its position in Seacoast Banking Co. of Florida by 20.1% during the 1st quarter. American Century Companies Inc. now owns 14,501 shares of the financial services provider’s stock worth $508,000 after acquiring an additional 2,424 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in Seacoast Banking Co. of Florida by 22.0% during the 1st quarter. US Bancorp DE now owns 4,025 shares of the financial services provider’s stock worth $141,000 after buying an additional 726 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

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.