Seacoast Banking Co. of Florida (NASDAQ:SBCF) Posts Earnings Results, Beats Expectations By $0.15 EPS

Seacoast Banking Co. of Florida (NASDAQ:SBCF) released its earnings results on Monday. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.15, Zacks reports. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%.

Seacoast Banking Co. of Florida Trading Up 1.8 %

Shares of NASDAQ:SBCF opened at $27.20 on Tuesday. The company has a market capitalization of $2.32 billion, a PE ratio of 19.71 and a beta of 1.09. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68. The business has a 50 day moving average of $28.12 and a two-hundred day moving average of $27.42. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Insiders Place Their Bets

In other news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the transaction, the chief executive officer now owns 126,232 shares in the company, valued at $3,832,403.52. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SBCF shares. Stephens raised their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Truist Financial reduced their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus target price of $28.70.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.