KBC Group NV Purchases 768 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

KBC Group NV raised its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 30.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,326 shares of the financial services provider’s stock after buying an additional 768 shares during the period. KBC Group NV’s holdings in Seacoast Banking Co. of Florida were worth $89,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of 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 worth $26,000 after purchasing an additional 412 shares during the period. Innealta Capital LLC bought a new position in Seacoast Banking Co. of Florida during the 2nd quarter valued at approximately $55,000. Algert Global LLC purchased a new stake in Seacoast Banking Co. of Florida in the 2nd quarter worth approximately $202,000. Janney Montgomery Scott LLC grew its position 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 worth $206,000 after buying an additional 460 shares during the last quarter. Finally, Xcel Wealth Management LLC purchased a new position in shares of Seacoast Banking Co. of Florida during the third quarter valued at approximately $223,000. Institutional investors own 81.77% of the company’s stock.

Insider Activity at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the transaction, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on SBCF. Hovde Group lowered Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. Truist Financial cut their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Stephens increased their price target on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods reiterated 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.70.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF opened at $30.57 on Friday. 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 company has a 50 day simple moving average of $27.48 and a two-hundred day simple moving average of $25.84. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $30.78. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 22.15 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The company had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.20 million. During the same quarter last year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts expect that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

Seacoast Banking Co. of Florida Company 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.