Seacoast Banking Corporation of Florida $SBCF Holdings Decreased by Heartland Advisors Inc.

Heartland Advisors Inc. decreased its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 632,052 shares of the financial services provider’s stock after selling 30,406 shares during the quarter. Seacoast Banking Corporation of Florida makes up 1.1% of Heartland Advisors Inc.’s investment portfolio, making the stock its 13th largest position. Heartland Advisors Inc.’s holdings in Seacoast Banking Corporation of Florida were worth $19,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Deprince Race & Zollo Inc. grew its stake in Seacoast Banking Corporation of Florida by 3.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,224,435 shares of the financial services provider’s stock valued at $69,892,000 after purchasing an additional 76,192 shares in the last quarter. William Blair Investment Management LLC grew its stake in Seacoast Banking Corporation of Florida by 4.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,282,535 shares of the financial services provider’s stock valued at $40,297,000 after purchasing an additional 59,780 shares in the last quarter. Vanguard Group Inc. grew its stake in Seacoast Banking Corporation of Florida by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock valued at $222,732,000 after purchasing an additional 705,554 shares in the last quarter. Boothbay Fund Management LLC grew its stake in Seacoast Banking Corporation of Florida by 48.2% in the third quarter. Boothbay Fund Management LLC now owns 187,879 shares of the financial services provider’s stock valued at $5,717,000 after purchasing an additional 61,119 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Seacoast Banking Corporation of Florida by 23.9% in the fourth quarter. UBS Group AG now owns 484,006 shares of the financial services provider’s stock worth $15,207,000 after buying an additional 93,381 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Insider Activity at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, CEO Charles M. Shaffer sold 10,367 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $30.88, for a total value of $320,132.96. Following the completion of the transaction, the chief executive officer owned 174,113 shares of the company’s stock, valued at $5,376,609.44. This represents a 5.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James C. Stallings III sold 7,552 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total value of $235,320.32. Following the completion of the transaction, the executive vice president directly owned 7,247 shares of the company’s stock, valued at approximately $225,816.52. The trade was a 51.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.50% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

NASDAQ SBCF opened at $30.88 on Thursday. The stock has a 50-day simple moving average of $30.99 and a 200 day simple moving average of $31.78. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $3.00 billion, a PE ratio of 20.32 and a beta of 0.86. Seacoast Banking Corporation of Florida has a twelve month low of $24.46 and a twelve month high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $205.51 million. Seacoast Banking Corporation of Florida had a return on equity of 8.23% and a net margin of 14.42%.The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. Research analysts anticipate that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 50.00%.

Wall Street Analysts Forecast Growth

SBCF has been the subject of a number of analyst reports. Weiss Ratings raised Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Piper Sandler reduced their price target on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Finally, Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Seacoast Banking Corporation of Florida has an average rating of “Moderate Buy” and an average target price of $34.50.

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.