Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock Unloaded Rep. Jared Moskowitz

Representative Jared Moskowitz (D-Florida) recently sold shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF). In a filing disclosed on December 09th, the Representative disclosed that they had sold between $15,001 and $50,000 in Seacoast Banking Co. of Florida stock on November 8th. The trade occurred in the Representative’s “MORGAN STANLEY ACTIVE ASSETS (6)” account.

Representative Jared Moskowitz also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Atmos Energy (NYSE:ATO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Elevance Health (NYSE:ELV) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 11/8/2024.
• Sold $50,001 – $100,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.

Seacoast Banking Co. of Florida Stock Down 0.5 %

Shares of NASDAQ:SBCF opened at $29.49 on Wednesday. The business’s 50 day moving average is $28.31 and its 200 day moving average is $26.42. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 21.37 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, meeting 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 company had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. During the same period last year, the firm earned $0.37 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.44%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 52.17%.

Institutional Trading of Seacoast Banking Co. of Florida

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 412 shares during the period. Innealta Capital LLC bought a new position in Seacoast Banking Co. of Florida in the second quarter worth about $55,000. KBC Group NV lifted its holdings in Seacoast Banking Co. of Florida by 30.0% in the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after buying an additional 768 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at approximately $121,000. Finally, FMR LLC boosted its position in shares of Seacoast Banking Co. of Florida by 57.3% during the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,960 shares in the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on SBCF. Truist Financial reduced their target price on shares of 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Stephens boosted their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Three 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, Seacoast Banking Co. of Florida currently has an average rating of “Hold” and an average price target of $28.70.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida’s 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state’s Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor’s degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz’s career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

About Seacoast Banking Co. of Florida

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.