JPMorgan Chase & Co. Has $6.42 Million Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

JPMorgan Chase & Co. reduced its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 240,991 shares of the financial services provider’s stock after selling 20,434 shares during the period. JPMorgan Chase & Co.’s holdings in Seacoast Banking Co. of Florida were worth $6,422,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Ceredex Value Advisors LLC raised its position in shares of Seacoast Banking Co. of Florida by 24.2% during the 3rd quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock valued at $12,551,000 after acquiring an additional 91,900 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Seacoast Banking Co. of Florida by 97.8% during the third quarter. BNP Paribas Financial Markets now owns 34,238 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 16,930 shares during the period. Curi RMB Capital LLC grew its stake in shares of Seacoast Banking Co. of Florida by 5.0% during the third quarter. Curi RMB Capital LLC now owns 544,914 shares of the financial services provider’s stock worth $14,522,000 after purchasing an additional 26,121 shares during the period. Jane Street Group LLC increased its holdings in Seacoast Banking Co. of Florida by 35.0% in the third quarter. Jane Street Group LLC now owns 105,808 shares of the financial services provider’s stock valued at $2,820,000 after purchasing an additional 27,403 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Seacoast Banking Co. of Florida by 7.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 849,811 shares of the financial services provider’s stock valued at $22,647,000 after buying an additional 56,897 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Up 0.8 %

Shares of Seacoast Banking Co. of Florida stock opened at $26.89 on Thursday. The company has a market capitalization of $2.30 billion, a P/E ratio of 19.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day moving average of $28.55 and a two-hundred day moving average of $27.22. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. Seacoast Banking Co. of Florida’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 EPS. As a group, equities analysts predict that Seacoast Banking Co. of Florida will post 1.41 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.68%. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial decreased their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Stephens boosted their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.70.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction dated 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. This represents a 14.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

Seacoast Banking Co. of Florida 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.