Public Sector Pension Investment Board Grows Stock Position in Seacoast Banking Corporation of Florida $SBCF

Public Sector Pension Investment Board raised its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 16.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 338,543 shares of the financial services provider’s stock after acquiring an additional 48,661 shares during the quarter. Public Sector Pension Investment Board’s holdings in Seacoast Banking Corporation of Florida were worth $10,302,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SBCF. Envestnet Portfolio Solutions Inc. lifted its position in shares of Seacoast Banking Corporation of Florida by 3.9% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 9,274 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 344 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Seacoast Banking Corporation of Florida by 69.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock worth $26,000 after buying an additional 352 shares during the period. Assetmark Inc. lifted its holdings in Seacoast Banking Corporation of Florida by 24.0% in the 2nd quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock worth $54,000 after buying an additional 375 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Seacoast Banking Corporation of Florida by 19.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,424 shares of the financial services provider’s stock worth $74,000 after buying an additional 388 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Seacoast Banking Corporation of Florida by 28.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider’s stock valued at $57,000 after buying an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Insider Activity

In other Seacoast Banking Corporation of Florida news, Director Jacqueline Lynette Bradley sold 2,279 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $33.54, for a total value of $76,437.66. Following the transaction, the director owned 7,000 shares of the company’s stock, valued at $234,780. This trade represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maryann Goebel sold 3,419 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $34.23, for a total value of $117,032.37. Following the completion of the transaction, the director owned 6,000 shares of the company’s stock, valued at approximately $205,380. The trade was a 36.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 9,117 shares of company stock valued at $310,434. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBCF. Piper Sandler reaffirmed a “neutral” rating and set a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Keefe, Bruyette & Woods raised their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Zacks Research lowered Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Seacoast Banking Corporation of Florida presently has an average rating of “Hold” and an average target price of $31.90.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ SBCF opened at $33.23 on Tuesday. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $35.55. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 20.77 and a beta of 0.93. The business has a 50 day simple moving average of $33.03 and a 200-day simple moving average of $31.36.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $204.80 million for the quarter, compared to the consensus estimate of $201.25 million. Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The business’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 earnings per share. As a group, equities research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 47.50%.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.