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

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) announced a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Investors of record on Friday, June 13th will be paid a dividend of 0.18 per share by the financial services provider on Monday, June 30th. This represents a $0.72 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, June 13th.

Seacoast Banking Co. of Florida has raised its dividend payment by an average of 22.7% annually over the last three years. Seacoast Banking Co. of Florida has a dividend payout ratio of 35.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Seacoast Banking Co. of Florida to earn $1.94 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 37.1%.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock traded down $0.14 during mid-day trading on Friday, reaching $23.73. 574,332 shares of the stock traded hands, compared to its average volume of 424,955. The stock has a market capitalization of $2.03 billion, a PE ratio of 16.59 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The business's 50-day moving average is $25.37 and its 200-day moving average is $27.18. Seacoast Banking Co. of Florida has a 12-month low of $21.36 and a 12-month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The business had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. As a group, sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBCF. Raymond James reissued an "outperform" rating and set a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Stephens boosted their price target on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Finally, StockNews.com upgraded Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $30.00.

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.