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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Thursday, October 17th, Zacks reports. Investors of record on Friday, December 13th will be paid a dividend of 0.18 per share by the financial services provider on Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, December 13th.

Seacoast Banking Co. of Florida has a dividend payout ratio of 45.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Seacoast Banking Co. of Florida to earn $1.59 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 45.3%.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock opened at $27.83 on Friday. The firm has a market capitalization of $2.36 billion, a P/E ratio of 20.02 and a beta of 1.07. The stock has a fifty day moving average price of $26.64 and a two-hundred day moving average price of $25.02. Seacoast Banking Co. of Florida has a 52-week low of $19.04 and a 52-week high of $29.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $201.99 million during the quarter, compared to analysts’ expectations of $126.00 million. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. During the same quarter last year, the company posted $0.37 EPS. As a group, analysts anticipate that Seacoast Banking Co. of Florida will post 1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SBCF. Hovde Group downgraded Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Truist Financial raised their target price on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.88.

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.