4,554 Shares in Seacoast Banking Co. of Florida (NASDAQ:SBCF) Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. acquired a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,554 shares of the financial services provider’s stock, valued at approximately $121,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBCF. GAMMA Investing LLC increased its position in Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 412 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the second quarter valued at about $55,000. KBC Group NV increased its position in shares of Seacoast Banking Co. of Florida by 30.0% during the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 768 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the second quarter valued at about $202,000. Finally, Janney Montgomery Scott LLC increased its position in shares of Seacoast Banking Co. of Florida by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 460 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Down 0.2 %

Shares of Seacoast Banking Co. of Florida stock opened at $29.26 on Thursday. Seacoast Banking Co. of Florida has a 52-week low of $21.90 and a 52-week high of $30.78. The company has a 50 day moving average of $27.41 and a 200 day moving average of $25.81. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.50 billion, a P/E ratio of 21.20 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $130.30 million during the quarter, compared to the consensus estimate of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. As a group, research analysts forecast that Seacoast Banking Co. of Florida will post 1.42 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.18 dividend. 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 2.46%. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

Wall Street Analyst Weigh In

SBCF has been the subject of a number of recent analyst reports. Stephens lifted their price target on shares of 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. Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $29.00 to $31.00 in a research report on Monday, July 29th. Keefe, Bruyette & Woods reiterated 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. Finally, Truist Financial dropped their price objective on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $28.70.

Insider Activity

In other news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the transaction, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at $3,832,403.52. The trade was a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida 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.