PNC Financial Services Group Inc. Acquires 659 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

PNC Financial Services Group Inc. raised its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,698 shares of the financial services provider’s stock after purchasing an additional 659 shares during the quarter. PNC Financial Services Group Inc. owned 0.06% of Seacoast Banking Co. of Florida worth $1,324,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Seacoast Banking Co. of Florida by 4.2% during the first quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock worth $159,578,000 after acquiring an additional 254,887 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Seacoast Banking Co. of Florida by 3.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 138,788 shares of the financial services provider’s stock valued at $3,524,000 after purchasing an additional 4,850 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 227.5% in the 2nd quarter. SG Americas Securities LLC now owns 33,912 shares of the financial services provider’s stock valued at $802,000 after acquiring an additional 23,558 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Seacoast Banking Co. of Florida by 8.7% during the second quarter. Diversified Trust Co now owns 14,298 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 1,144 shares in the last quarter. Finally, Dakota Wealth Management grew its holdings in shares of Seacoast Banking Co. of Florida by 16.7% during the second quarter. Dakota Wealth Management now owns 10,515 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 1,507 shares during the last quarter. 81.77% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the sale, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on SBCF shares. Stephens upped their price target on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Finally, Truist Financial reduced their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $28.70.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF opened at $30.28 on Thursday. The stock has a market capitalization of $2.59 billion, a PE ratio of 21.94 and a beta of 1.07. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68. The company’s 50 day simple moving average is $27.69 and its two-hundred day simple moving average is $26.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The business had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $129.20 million. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts predict that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.38%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 52.17%.

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.