State of Alaska Department of Revenue Has $1.29 Million Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

State of Alaska Department of Revenue cut its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,241 shares of the financial services provider’s stock after selling 1,178 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Seacoast Banking Co. of Florida worth $1,285,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 412 shares during the period. Texas Permanent School Fund Corp grew its holdings in shares of Seacoast Banking Co. of Florida by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 74,241 shares of the financial services provider’s stock valued at $1,755,000 after buying an additional 438 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after buying an additional 460 shares during the period. Illinois Municipal Retirement Fund raised its stake in Seacoast Banking Co. of Florida by 1.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 46,860 shares of the financial services provider’s stock worth $1,190,000 after buying an additional 477 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Seacoast Banking Co. of Florida by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 42,300 shares of the financial services provider’s stock worth $1,000,000 after acquiring an additional 500 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Trading Up 0.4 %

NASDAQ SBCF opened at $26.81 on Monday. Seacoast Banking Co. of Florida has a 52 week low of $20.75 and a 52 week high of $29.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The stock’s 50 day moving average price is $26.83 and its two-hundred day moving average price is $25.28. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 19.43 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, analysts anticipate that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.69%. Seacoast Banking Co. of Florida’s dividend payout ratio is 52.17%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Stephens increased their price target on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Truist Financial reduced their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, Hovde Group lowered shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average price target of $28.70.

Seacoast Banking Co. of Florida Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.