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

Seacoast Banking Co. of Florida (NASDAQ:SBCF) declared a quarterly dividend on Tuesday, March 11th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.18 per share by the financial services provider on Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, March 14th.

Seacoast Banking Co. of Florida has increased its dividend by an average of 22.7% per year over the last three years. Seacoast Banking Co. of Florida has a dividend payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.4 %

Shares of SBCF stock opened at $25.31 on Wednesday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 17.70 and a beta of 1.09. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68. The firm’s fifty day simple moving average is $27.71 and its 200 day simple moving average is $27.79. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. As a group, sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Raymond James restated an “outperform” rating and issued 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. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Stephens boosted their price objective on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average target price of $30.00.

Seacoast Banking Co. of Florida Company Profile

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.