Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) declared a quarterly dividend on Wednesday, January 18, Zacks reports. Shareholders of record on Wednesday March 15 will receive a dividend of 0.17 per share from the financial services provider on Friday March 31. This represents a dividend of $0.68 on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Tuesday, March 14.
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Seacoast Banking Co. of Florida has a dividend payout ratio of 23.9%, which means that its dividends are sufficiently covered by earnings. Stock analysts expect Seacoast Banking Co. of Florida to earn $2.09 per share next year, which means the company should continue to cover its annual dividend of $0.68 with an expected future payout rate of 32, 5%.
Seacoast Banking Co. of Florida Price Performance
SBCF shares opened at $31.20 on Friday. Seacoast Banking Co. of Florida has a 1-year minimum of $29.05 and a 1-year maximum of $38.74. The firm has a debt to equity ratio of 0.06, a current ratio of 0.77, and a quick ratio of 0.77. The company has a market capitalization of $1.92 billion, a price-earnings ratio of 16.00, and a beta of 1.09. The company has a 50-day moving average of $32.28 and a 200-day moving average of $32.53.
Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) last released its quarterly earnings data on Thursday, October 27. The financial services provider reported earnings per share (EPS) of $0.47 for the quarter, below analyst consensus estimates of $0.61 per ($0.14). Seacoast Banking Co. of Florida earned a return on equity of 9.80% and a net margin of 30.14%. The company had revenue of $104.39 million in the quarter, compared to the consensus estimate of $105.57 million. As a group, stock research analysts anticipate Seacoast Banking Co. of Florida to post 1.47 earnings per share for the current year.
Institutional investors weigh in on Seacoast Banking Co. of Florida
Hedge funds have recently increased or reduced their holdings in the company. Royal Bank of Canada increased its stake in Seacoast Banking Co. of Florida by 4.0% in the third quarter. Royal Bank of Canada now owns 21,624 shares in the financial services provider valued at $654,000 after acquiring an additional 829 shares during the period. Hsbc Holdings PLC increased its stake in Seacoast Banking Co. of Florida by 61.5% in the first quarter. Hsbc Holdings PLC now owns 17,180 shares in the financial services provider valued at $610,000 after acquiring an additional 6,545 shares during the period. Two Sigma Advisers LP acquired a new interest in Seacoast Banking Co. of Florida in the third quarter valued at approximately $556,000. American Century Companies Inc. increased its stake in Seacoast Banking Co. of Florida by 20.1% in the first quarter. American Century Companies Inc. now owns 14,501 shares of the financial services provider valued at $508,000 after acquiring an additional 2,424 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new interest in Seacoast Banking Co. of Florida in the third quarter valued at approximately $506,000. Institutional investors and hedge funds own 86.92% of the company’s shares.
Wall Street analysts forecast growth
Several stock research analysts have weighed in on the company. Hovde Group lowered its price target on Seacoast Banking Co. of Florida to $34.00 in a Friday, November 4, report. StockNews.com downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Monday, October 31.
About Seacoast Banking Co. of Florida
Seacoast Banking Corporation of Florida operates as the banking holding company for Seacoast National Bank which provides financial services to retail and business customers in Florida. It offers commercial and retail banking, wealth management and mortgage services; and brokerage and annuity services.
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