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

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

Seacoast Banking Co. of Florida Stock Up 1.8 %

NASDAQ SBCF traded up $0.47 during midday trading on Monday, hitting $27.20. 405,271 shares of the company traded hands, compared to its average volume of 355,104. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The company's 50-day simple moving average is $28.17 and its 200-day simple moving average is $27.41. The company has a market cap of $2.32 billion, a PE ratio of 19.71 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis 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 (DPR) is 52.17%.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the transaction, the chief executive officer now directly owns 126,232 shares of the company's stock, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SBCF has been the subject of a number of research analyst reports. Truist Financial decreased their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Monday, October 28th. Stephens lifted their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $28.70.

About Seacoast Banking Co. of Florida

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.

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