Farther Finance Advisors LLC Sells 6,104 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Farther Finance Advisors LLC decreased its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 83.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,253 shares of the financial services provider’s stock after selling 6,104 shares during the quarter. Farther Finance Advisors LLC’s holdings in Seacoast Banking Co. of Florida were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Westwood Holdings Group Inc. increased its stake in shares of Seacoast Banking Co. of Florida by 15.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 3,121,900 shares of the financial services provider’s stock worth $79,265,000 after purchasing an additional 414,037 shares in the last quarter. F M Investments LLC purchased a new position in Seacoast Banking Co. of Florida during the second quarter worth $7,601,000. Vanguard Group Inc. lifted its stake in Seacoast Banking Co. of Florida by 4.2% in the first quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock worth $159,578,000 after purchasing an additional 254,887 shares during the last quarter. abrdn plc increased its stake in Seacoast Banking Co. of Florida by 10.9% in the third quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock worth $29,914,000 after purchasing an additional 110,582 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in 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 worth $14,854,000 after acquiring an additional 104,400 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction 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 $3,832,403.52. The trade was a 14.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by insiders.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ:SBCF opened at $29.62 on Friday. The business’s 50 day moving average price is $27.17 and its 200-day moving average price is $25.64. The firm has a market capitalization of $2.53 billion, a PE ratio of 21.46 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. Seacoast Banking Co. of Florida has a 1 year low of $21.23 and a 1 year high of $30.78.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 EPS. As a group, equities research analysts expect 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 business also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 2.43%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 52.17%.

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.