Squarepoint Ops LLC Purchases New Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Squarepoint Ops LLC bought a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,111 shares of the financial services provider’s stock, valued at approximately $334,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Seacoast Banking Co. of Florida by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider’s stock valued at $171,619,000 after buying an additional 206,002 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Seacoast Banking Co. of Florida by 64.4% during the first quarter. BNP Paribas Financial Markets now owns 42,118 shares of the financial services provider’s stock valued at $1,069,000 after purchasing an additional 16,493 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Seacoast Banking Co. of Florida by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 460 shares during the period. Capstone Investment Advisors LLC bought a new stake in Seacoast Banking Co. of Florida in the first quarter valued at $348,000. Finally, GSA Capital Partners LLP bought a new stake in Seacoast Banking Co. of Florida in the first quarter valued at $1,325,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, Director Dennis S. Hudson III sold 16,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 234,312 shares in the company, valued at $6,326,424. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

Seacoast Banking Co. of Florida Stock Performance

SBCF opened at $25.63 on Friday. Seacoast Banking Co. of Florida has a 12-month low of $19.04 and a 12-month high of $29.98. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 18.31 and a beta of 1.07. The business has a 50 day moving average of $26.36 and a 200-day moving average of $24.92. 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 for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $201.99 million during the quarter, compared to analysts’ expectations of $126.00 million. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. During the same period last year, the firm posted $0.37 EPS. On average, equities research analysts expect that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 annualized dividend and a yield of 2.81%. Seacoast Banking Co. of Florida’s payout ratio is currently 51.43%.

Analysts Set New Price Targets

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

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.