Sei Investments Co. Grows Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Sei Investments Co. raised its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 36.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 281,601 shares of the financial services provider’s stock after purchasing an additional 75,605 shares during the period. Sei Investments Co. owned 0.33% of Seacoast Banking Co. of Florida worth $6,657,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SBCF. Vanguard Group Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock worth $159,578,000 after buying an additional 254,887 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Seacoast Banking Co. of Florida by 15.3% during the first quarter. Westwood Holdings Group Inc. now owns 3,121,900 shares of the financial services provider’s stock valued at $79,265,000 after acquiring an additional 414,037 shares during the period. Dimensional Fund Advisors LP increased its stake in Seacoast Banking Co. of Florida by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider’s stock worth $70,949,000 after acquiring an additional 27,287 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Seacoast Banking Co. of Florida by 24.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock worth $29,710,000 after purchasing an additional 226,132 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 19.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 628,351 shares of the financial services provider’s stock valued at $14,854,000 after purchasing an additional 104,400 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Hovde Group downgraded shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $29.00 to $31.00 in a research report on Monday, July 29th. Truist Financial raised their target price on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.88.

Seacoast Banking Co. of Florida Stock Up 1.3 %

Shares of NASDAQ:SBCF opened at $26.65 on Tuesday. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 19.04 and a beta of 1.08. The company has a 50 day moving average of $26.72 and a two-hundred day moving average of $24.85. Seacoast Banking Co. of Florida has a 52-week low of $19.04 and a 52-week high of $29.98. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The firm had revenue of $201.99 million for the quarter, compared to the consensus estimate of $126.00 million. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. During the same quarter in the previous year, the firm posted $0.37 EPS. As a group, analysts forecast that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, September 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 51.43%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, Director Dennis S. Hudson III sold 16,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total transaction of $432,000.00. Following the completion of the transaction, the director now directly owns 234,312 shares in the company, valued at approximately $6,326,424. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.50% of the stock is owned by insiders.

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.