Seacoast Banking Co. of Florida (NASDAQ:SBCF) Sees Large Volume Increase – Time to Buy?

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) saw strong trading volume on Friday . 171,970 shares changed hands during mid-day trading, a decline of 58% from the previous session’s volume of 411,521 shares.The stock last traded at $26.40 and had previously closed at $25.63.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Hovde Group cut Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Finally, Truist Financial increased 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 report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus target price of $29.88.

Seacoast Banking Co. of Florida Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 19.02 and a beta of 1.07. The stock has a 50-day moving average price of $26.39 and a two-hundred day moving average price of $24.93.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued 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 company had revenue of $201.99 million during the quarter, compared to analyst estimates of $126.00 million. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. During the same quarter last year, the business posted $0.37 EPS. As a group, equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.43 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.70%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 51.43%.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, Director Dennis S. Hudson III sold 16,000 shares of Seacoast Banking Co. of Florida stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total transaction of $432,000.00. Following the completion of the transaction, the director now owns 234,312 shares in the company, valued at approximately $6,326,424. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seacoast Banking Co. of Florida

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Seacoast Banking Co. of Florida by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock worth $159,578,000 after buying an additional 254,887 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Seacoast Banking Co. of Florida by 2.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,210,657 shares of the financial services provider’s stock worth $75,900,000 after buying an additional 88,757 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Seacoast Banking Co. of Florida by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider’s stock worth $70,949,000 after buying an additional 27,287 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Seacoast Banking Co. of Florida by 4.7% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,689,888 shares of the financial services provider’s stock worth $39,949,000 after buying an additional 76,001 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Seacoast Banking Co. of Florida by 24.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock worth $29,710,000 after buying an additional 226,132 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Company Profile

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.