Seacoast Banking Corporation of Florida $SBCF Shares Acquired by GW&K Investment Management LLC

GW&K Investment Management LLC increased its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,489,081 shares of the financial services provider’s stock after buying an additional 78,285 shares during the quarter. GW&K Investment Management LLC owned about 1.52% of Seacoast Banking Corporation of Florida worth $45,313,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBCF. Jones Financial Companies Lllp boosted its position 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 acquiring an additional 352 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 41.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 478 shares during the period. Caldwell Trust Co acquired a new position in shares of Seacoast Banking Corporation of Florida during the second quarter valued at $51,000. Assetmark Inc. raised its stake in shares of Seacoast Banking Corporation of Florida by 24.0% during the second quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 375 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Seacoast Banking Corporation of Florida by 28.1% in the second quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 452 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Finally, Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.90.

Seacoast Banking Corporation of Florida Stock Up 0.4%

NASDAQ SBCF opened at $31.48 on Thursday. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $35.55. The company has a market capitalization of $3.08 billion, a P/E ratio of 19.68 and a beta of 0.92. The company’s 50 day simple moving average is $33.08 and its 200 day simple moving average is $31.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.77.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). The business 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 company’s quarterly revenue was up 53.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.48 earnings per share. Equities research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida’s payout ratio is presently 47.50%.

Insiders Place Their Bets

In related news, Director Joseph B. Shearouse III bought 4,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were bought at an average cost of $33.19 per share, with a total value of $132,760.00. Following the completion of the transaction, the director directly owned 35,500 shares of the company’s stock, valued at approximately $1,178,245. This trade represents a 12.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis J. Arczynski sold 3,419 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $34.21, for a total value of $116,963.99. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at $34,210. This trade represents a 77.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,752 shares of company stock worth $726,126. Corporate insiders own 1.60% of the company’s stock.

Seacoast Banking Corporation of Florida Company Profile

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.