Orca Wealth Management LLC Invests $526,000 in Seacoast Banking Corporation of Florida $SBCF

Orca Wealth Management LLC bought a new stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,301 shares of the financial services provider’s stock, valued at approximately $526,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Natixis Advisors LLC increased its holdings in Seacoast Banking Corporation of Florida by 13.3% during the 3rd quarter. Natixis Advisors LLC now owns 53,177 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 6,223 shares in the last quarter. Aptus Capital Advisors LLC raised its position in Seacoast Banking Corporation of Florida by 15.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 438,416 shares of the financial services provider’s stock valued at $13,341,000 after purchasing an additional 57,879 shares during the last quarter. Pitcairn Co. boosted its stake in Seacoast Banking Corporation of Florida by 7.8% in the third quarter. Pitcairn Co. now owns 12,983 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 938 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Seacoast Banking Corporation of Florida by 5.5% in the third quarter. GW&K Investment Management LLC now owns 1,489,081 shares of the financial services provider’s stock worth $45,313,000 after purchasing an additional 78,285 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Seacoast Banking Corporation of Florida by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,098,370 shares of the financial services provider’s stock worth $94,284,000 after purchasing an additional 95,529 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, Director Dennis J. Arczynski sold 3,419 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $34.21, for a total transaction of $116,963.99. Following the completion of the sale, the director directly owned 1,000 shares of the company’s stock, valued at approximately $34,210. The trade was a 77.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph B. Shearouse III bought 4,000 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were acquired at an average price of $33.19 per share, for a total transaction of $132,760.00. Following the completion of the transaction, the director owned 35,500 shares in the company, valued at approximately $1,178,245. This trade represents a 12.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 29,752 shares of company stock valued at $976,846. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Seacoast Banking Corporation of Florida Stock Down 2.2%

NASDAQ:SBCF opened at $30.29 on Monday. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 18.93 and a beta of 0.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s fifty day moving average price is $33.02 and its two-hundred day moving average price is $31.74. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $204.80 million during the quarter, compared to analyst estimates of $201.25 million. Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The firm’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period last year, the business posted $0.48 earnings per share. On average, analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors 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 yield of 2.5%. 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.