Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Purchased by State Street Corp

State Street Corp grew its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,239,308 shares of the financial services provider’s stock after acquiring an additional 28,066 shares during the period. State Street Corp’s holdings in Seacoast Banking Co. of Florida were worth $112,978,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. F M Investments LLC acquired a new stake in Seacoast Banking Co. of Florida during the 2nd quarter worth approximately $7,601,000. abrdn plc grew its stake in Seacoast Banking Co. of Florida by 10.9% during the third quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock worth $29,914,000 after buying an additional 110,582 shares during the period. First Eagle Investment Management LLC increased its position in shares of Seacoast Banking Co. of Florida by 19.9% in the second quarter. First Eagle Investment Management LLC now owns 628,351 shares of the financial services provider’s stock worth $14,854,000 after acquiring an additional 104,400 shares in the last quarter. Ceredex Value Advisors LLC increased its position in shares of Seacoast Banking Co. of Florida by 24.2% in the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock worth $12,551,000 after acquiring an additional 91,900 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 2.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,210,657 shares of the financial services provider’s stock valued at $75,900,000 after acquiring an additional 88,757 shares during the period. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Seacoast Banking Co. of Florida

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

Analyst Ratings Changes

Several research analysts have commented on SBCF shares. Truist Financial cut their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Stephens increased their target price 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. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus price target of $28.70.

Seacoast Banking Co. of Florida Trading Down 0.7 %

Shares of NASDAQ SBCF opened at $28.89 on Monday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 20.93 and a beta of 1.08. The stock’s 50 day simple moving average is $28.51 and its 200 day simple moving average is $26.55. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The firm had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $129.20 million. During the same quarter in the prior year, the firm earned $0.37 EPS. Seacoast Banking Co. of Florida’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Seacoast Banking Co. of Florida will post 1.41 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm 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 $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.49%. Seacoast Banking Co. of Florida’s dividend payout ratio 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.