James C. Stallings III Sells 3,855 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock

Seacoast Banking Co. of Florida (NASDAQ:SBCF) EVP James C. Stallings III sold 3,855 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.44, for a total value of $94,216.20. Following the completion of the transaction, the executive vice president now owns 3,961 shares in the company, valued at approximately $96,806.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Seacoast Banking Co. of Florida Trading Up 2.4 %

Shares of NASDAQ:SBCF traded up $0.57 during midday trading on Monday, reaching $24.69. 494,574 shares of the company’s stock were exchanged, compared to its average volume of 415,487. The firm’s 50 day simple moving average is $23.94 and its two-hundred day simple moving average is $24.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 17.64 and a beta of 1.17. Seacoast Banking Co. of Florida has a fifty-two week low of $18.52 and a fifty-two week high of $29.98.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, June 13th. Seacoast Banking Co. of Florida’s payout ratio is 51.43%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Raymond James raised their target price on 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. Keefe, Bruyette & Woods cut their target price on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Thursday. Truist Financial cut their target price on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Finally, Hovde Group cut their target price on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus target price of $26.10.

Institutional Trading of Seacoast Banking Co. of Florida

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its position in Seacoast Banking Co. of Florida by 31.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after acquiring an additional 1,106,724 shares in the last quarter. Hsbc Holdings PLC acquired a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at about $10,179,000. abrdn plc grew its position in Seacoast Banking Co. of Florida by 40.7% in the 3rd quarter. abrdn plc now owns 1,212,652 shares of the financial services provider’s stock valued at $26,630,000 after acquiring an additional 350,726 shares in the last quarter. Franklin Resources Inc. grew its position in Seacoast Banking Co. of Florida by 20.6% in the 4th quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock valued at $58,262,000 after acquiring an additional 349,147 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Seacoast Banking Co. of Florida by 11.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock valued at $84,814,000 after acquiring an additional 310,499 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

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.