Schrum Private Wealth Management LLC Takes $487,000 Position in Seacoast Banking Corporation of Florida $SBCF

Schrum Private Wealth Management LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 16,015 shares of the financial services provider’s stock, valued at approximately $487,000.

Several other institutional investors also recently bought and sold shares of SBCF. Vanguard Group Inc. lifted its holdings in Seacoast Banking Corporation of Florida by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,383,315 shares of the financial services provider’s stock worth $194,244,000 after buying an additional 33,993 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of Seacoast Banking Corporation of Florida by 7.2% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 2,148,243 shares of the financial services provider’s stock worth $65,371,000 after acquiring an additional 143,871 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,072,290 shares of the financial services provider’s stock worth $57,244,000 after purchasing an additional 14,896 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 0.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 1,927,217 shares of the financial services provider’s stock worth $53,230,000 after purchasing an additional 10,474 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its position in Seacoast Banking Corporation of Florida by 99.4% during the third quarter. Tributary Capital Management LLC now owns 1,459,462 shares of the financial services provider’s stock valued at $44,411,000 after purchasing an additional 727,428 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBCF has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted 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 research report on Monday, February 2nd. Zacks Research cut shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Piper Sandler restated a “neutral” rating and issued a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.90.

Seacoast Banking Corporation of Florida Stock Performance

SBCF opened at $33.49 on Friday. The company has a market cap of $3.28 billion, a P/E ratio of 20.93 and a beta of 0.93. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $33.09 and its 200-day moving average price is $31.43. 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 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The company had revenue of $204.80 million for the quarter, compared to analysts’ expectations of $201.25 million. During the same period in the prior year, the firm posted $0.48 EPS. The firm’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, equities analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, March 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 47.50%.

Insider Transactions at Seacoast Banking Corporation of Florida

In other news, Director Jacqueline Lynette Bradley sold 2,279 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $33.54, for a total value of $76,437.66. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at $234,780. This trade represents a 24.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Maryann Goebel sold 3,419 shares of the company’s 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 sale, the director owned 6,000 shares in the company, valued at approximately $205,380. This represents a 36.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 9,117 shares of company stock worth $310,434. 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.