Seacoast Banking Corporation of Florida $SBCF Stock Holdings Increased by Sei Investments Co.

Sei Investments Co. boosted its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 88.4% in the 1st quarter, Holdings Channel reports. The firm owned 363,154 shares of the financial services provider’s stock after buying an additional 170,421 shares during the period. Sei Investments Co.’s holdings in Seacoast Banking Corporation of Florida were worth $11,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBCF. World Investment Advisors grew its position in 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 during the last quarter. CWM LLC increased 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 valued at $348,000 after buying an additional 320 shares in the last quarter. Salomon & Ludwin LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 59.3% during the 4th quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 356 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Seacoast Banking Corporation of Florida by 1.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 45,543 shares of the financial services provider’s stock valued at $1,431,000 after acquiring an additional 471 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Seacoast Banking Corporation of Florida by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 513 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Price Performance

SBCF opened at $34.74 on Friday. The stock has a fifty day moving average of $32.15 and a 200-day moving average of $31.97. The firm has a market capitalization of $3.38 billion, a P/E ratio of 22.13 and a beta of 0.85. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.35. Seacoast Banking Corporation of Florida has a 12-month low of $27.22 and a 12-month high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%.The firm had revenue of $209.99 million during the quarter, compared to analyst estimates of $209.84 million. Equities analysts forecast that Seacoast Banking Corporation of Florida will post 2.53 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.2%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 48.41%.

Wall Street Analysts Forecast Growth

SBCF has been the topic of a number of recent research reports. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Piper Sandler upped their target price on Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the company a “neutral” rating in a report on Thursday. Finally, Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Seacoast Banking Corporation of Florida has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Insiders Place Their Bets

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 8,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total value of $251,280.00. Following the transaction, the director directly owned 220,854 shares of the company’s stock, valued at $6,937,024.14. This represents a 3.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles M. Shaffer sold 10,367 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 174,113 shares of the company’s stock, valued at approximately $5,376,609.44. The trade was a 5.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,919 shares of company stock valued at $942,733 in the last three months. Insiders own 1.50% 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.