Seacoast Banking Corporation of Florida $SBCF Position Boosted by FJ Capital Management LLC

FJ Capital Management LLC lifted its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 12.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,361,677 shares of the financial services provider’s stock after buying an additional 151,681 shares during the quarter. Seacoast Banking Corporation of Florida accounts for approximately 4.8% of FJ Capital Management LLC’s holdings, making the stock its 4th largest position. FJ Capital Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $42,784,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. World Investment Advisors lifted its holdings in shares of Seacoast Banking Corporation of Florida by 3.6% in the fourth quarter. World Investment Advisors now owns 9,036 shares of the financial services provider’s stock worth $274,000 after buying an additional 316 shares in the last quarter. CWM LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 3.0% in the fourth quarter. CWM LLC now owns 11,083 shares of the financial services provider’s stock worth $348,000 after buying an additional 320 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Seacoast Banking Corporation of Florida by 69.7% in the third 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 in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 59.3% in the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after buying an additional 356 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of Seacoast Banking Corporation of Florida by 1.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 45,543 shares of the financial services provider’s stock worth $1,431,000 after buying an additional 471 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

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

Analyst Upgrades and Downgrades

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

Seacoast Banking Corporation of Florida Trading Up 2.4%

Shares of SBCF opened at $32.08 on Friday. The company’s fifty day moving average is $31.04 and its 200 day moving average is $31.79. Seacoast Banking Corporation of Florida has a fifty-two week low of $24.46 and a fifty-two week high of $35.55. The stock has a market capitalization of $3.12 billion, a PE ratio of 21.11 and a beta of 0.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78.

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

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, June 15th. Seacoast Banking Corporation of Florida’s payout ratio is currently 50.00%.

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.