Seacoast Banking Corporation of Florida (NASDAQ:SBCF) director Dennis S. Hudson, III executed a sale of 4,000 common shares on July 1, 2026, under a Rule 10b5-1 trading plan. The transaction, valued at $136,000, was priced at $34.00 per share, reflecting a premium over the stock's recent trading levels. The sale was facilitated through a pre-established trading plan adopted in November 2025, ensuring compliance with regulatory requirements while allowing for structured liquidity events. This transaction represents a routine execution of a previously set framework rather than an ad-hoc market decision.
Following the transaction, Mr. Hudson's direct holdings in Seacoast Banking include 216,854 shares held in trust. His direct portfolio also encompasses 18,104 shares held jointly with his spouse. Additionally, he maintains 34,315.537 shares within the company's Retirement Savings Plan as of March 31, 2026, and 9,356 shares held in an Individual Retirement Account. Indirectly, Mr. Hudson holds 21,867 shares through his spouse in trust and an additional 51,416 shares held by Sherwood Partners, Ltd, a family partnership.
The director also holds derivative securities in the form of rights to buy common stock. These include 55,279 shares with an exercise price of $31.15, expiring on April 2, 2028, and 78,021 shares with an exercise price of $28.69, expiring on April 3, 2027. Both sets of rights were granted under the company's 2013 Incentive Plan and vest over three years in one-third increments each anniversary of the grant date, contingent on continuous employment and the company's banking subsidiary meeting certain capital requirements.
Seacoast Banking's stock traded at $33.28, reflecting a 52-week high of $35.55. The sale price of $34.00 represents a premium to the current stock price of $33.28. According to InvestingPro analysis, SBCF appears undervalued at current levels, with the stock delivering an 18.5% return over the past year. This information was disclosed in a Form 4 filing with the Securities and Exchange Commission on July 2, 2026.
In other recent news, Seacoast Banking Corporation of Florida reported its first-quarter 2026 earnings, which showed mixed results. The company exceeded earnings per share (EPS) expectations with an adjusted EPS of $0.62, surpassing the forecasted $0.58. However, the revenue did not meet projections, coming in at $163.86 million compared to the anticipated $205.51 million, marking a significant shortfall.
Additionally, Piper Sandler adjusted its outlook on Seacoast Banking by raising the stock price target to $34.00 from $32.50, while maintaining a Neutral rating. This revision is based on increased earnings estimates for 2026 and 2027, now projected at $2.50 and $2.76 per share, respectively. The adjustments reflect expectations for substantial share repurchases, as the company recently bought back 320,763 shares at $31.18 per share.