Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Acquired by Fmr LLC

Fmr LLC boosted its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 57.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,382 shares of the financial services provider’s stock after purchasing an additional 1,960 shares during the quarter. Fmr LLC’s holdings in Seacoast Banking Co. of Florida were worth $143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Seacoast Banking Co. of Florida by 73.4% in the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after buying an additional 412 shares in the last quarter. Innealta Capital LLC acquired a new position in Seacoast Banking Co. of Florida during the second quarter worth about $55,000. KBC Group NV raised its position in Seacoast Banking Co. of Florida by 30.0% in the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 768 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Seacoast Banking Co. of Florida in the 3rd quarter valued at about $121,000. Finally, Algert Global LLC bought a new position in shares of Seacoast Banking Co. of Florida during the 2nd quarter valued at about $202,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the transaction, the chief executive officer now directly owns 126,232 shares in the company, valued at $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

Seacoast Banking Co. of Florida Stock Up 3.6 %

SBCF stock opened at $27.60 on Monday. Seacoast Banking Co. of Florida has a twelve month low of $21.90 and a twelve month high of $31.68. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.36 billion, a PE ratio of 20.00 and a beta of 1.08. The business’s 50-day simple moving average is $28.68 and its 200 day simple moving average is $26.72.

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

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SBCF shares. Stephens upped their price target on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Truist Financial cut their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average price target of $28.70.

About Seacoast Banking Co. of Florida

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.