Insider Selling: Seacoast Banking Co. of Florida (NASDAQ:SBCF) EVP Sells $94,216.20 in Stock

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

Seacoast Banking Co. of Florida Price Performance

SBCF opened at $24.29 on Thursday. The stock’s 50 day simple moving average is $23.98 and its 200 day simple moving average is $24.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a 1 year low of $18.52 and a 1 year high of $29.98. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 17.35 and a beta of 1.17.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.18 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.96%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 51.43%.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 4th quarter worth approximately $25,000. First Horizon Advisors Inc. boosted its position in shares of Seacoast Banking Co. of Florida by 39.8% during the third quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 520 shares in the last quarter. Good Life Advisors LLC bought a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $205,000. Janney Montgomery Scott LLC boosted its position in shares of Seacoast Banking Co. of Florida by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 460 shares in the last quarter. Finally, Xcel Wealth Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $238,000. 81.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on SBCF shares. Truist Financial dropped their price objective on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Monday, April 29th. Keefe, Bruyette & Woods dropped their price objective on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Thursday, May 2nd. Raymond James increased their price objective on 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. Finally, Hovde Group dropped their price objective on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.10.

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.