Swiss National Bank Buys 20,300 Shares of Seacoast Banking Corporation of Florida $SBCF

Swiss National Bank grew its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 11.7% in the first quarter, HoldingsChannel reports. The firm owned 193,600 shares of the financial services provider’s stock after buying an additional 20,300 shares during the quarter. Swiss National Bank’s holdings in Seacoast Banking Corporation of Florida were worth $5,864,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Seacoast Banking Corporation of Florida in the fourth quarter worth about $26,000. Salomon & Ludwin LLC boosted its stake in Seacoast Banking Corporation of Florida by 59.3% during the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock valued at $31,000 after buying an additional 356 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Seacoast Banking Corporation of Florida during the 3rd quarter valued at approximately $33,000. Advisory Services Network LLC purchased a new position in Seacoast Banking Corporation of Florida during the 3rd quarter valued at approximately $45,000. Finally, Kestra Advisory Services LLC bought a new stake in Seacoast Banking Corporation of Florida in the 4th quarter worth approximately $50,000. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Corporation of Florida Price Performance

Shares of Seacoast Banking Corporation of Florida stock opened at $33.65 on Wednesday. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 22.14 and a beta of 0.85. 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 50 day moving average price of $31.91 and a 200-day moving average price of $31.93. Seacoast Banking Corporation of Florida has a one year low of $27.22 and a one year high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The company had revenue of $209.99 million for the quarter, compared to analyst estimates of $209.84 million. Seacoast Banking Corporation of Florida had a return on equity of 8.23% and a net margin of 14.42%. Equities analysts expect that Seacoast Banking Corporation of Florida will post 2.51 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. Seacoast Banking Corporation of Florida’s payout ratio is 50.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SBCF shares. Piper Sandler upped their price objective on Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Finally, 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. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Seacoast Banking Corporation of Florida presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Insider Activity

In other news, Director Dennis S. Hudson III sold 4,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $34.00, for a total value of $136,000.00. Following the sale, the director owned 216,854 shares of the company’s stock, valued at approximately $7,373,036. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James C. Stallings III sold 7,552 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $225,816.52. This trade represents a 51.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 29,919 shares of company stock valued at $942,733. 1.50% of the stock is currently owned by company insiders.

Seacoast Banking Corporation of Florida 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.