Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.77 and traded as high as $33.35. Seacoast Banking Corporation of Florida shares last traded at $33.10, with a volume of 1,438,088 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler increased their price target on shares of Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the company a “neutral” rating in a research note on Monday, June 22nd. Weiss Ratings lowered Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, June 15th. Finally, Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.00.

Seacoast Banking Corporation of Florida Price Performance

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 21.78 and a beta of 0.86. The stock’s 50-day simple moving average is $31.03 and its 200 day simple moving average is $31.77.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. On average, equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 2.51 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, June 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 50.00%.

Insider Activity at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total value of $251,280.00. Following the sale, the director owned 220,854 shares of the company’s stock, valued at $6,937,024.14. The trade was a 3.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James C. Stallings III sold 7,552 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total value of $235,320.32. Following the transaction, the executive vice president owned 7,247 shares in the company, valued at $225,816.52. This trade represents a 51.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 25,919 shares of company stock worth $806,733. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Seacoast Banking Corporation of Florida

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Seacoast Banking Corporation of Florida by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock valued at $222,732,000 after acquiring an additional 705,554 shares in the last quarter. North Reef Capital Management LP lifted its position in shares of Seacoast Banking Corporation of Florida by 16.8% during the fourth quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock worth $183,244,000 after purchasing an additional 837,075 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Seacoast Banking Corporation of Florida by 58.6% in the third quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock valued at $166,825,000 after purchasing an additional 2,025,988 shares during the period. State Street Corp boosted its stake in shares of Seacoast Banking Corporation of Florida by 1.4% in the fourth quarter. State Street Corp now owns 4,610,754 shares of the financial services provider’s stock valued at $144,870,000 after purchasing an additional 64,986 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Seacoast Banking Corporation of Florida by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,150,592 shares of the financial services provider’s stock valued at $95,427,000 after purchasing an additional 123,273 shares during the period. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.