Versor Investments LP Boosts Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Versor Investments LP increased its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 26.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,700 shares of the financial services provider’s stock after buying an additional 3,100 shares during the quarter. Versor Investments LP’s holdings in Seacoast Banking Co. of Florida were worth $392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 73.4% in the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after buying an additional 412 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Seacoast Banking Co. of Florida in the second quarter worth approximately $55,000. Algert Global LLC purchased a new position in shares of Seacoast Banking Co. of Florida in the second quarter worth approximately $202,000. Janney Montgomery Scott LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 6.0% in the first 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 in the third quarter worth approximately $223,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Trading Down 0.6 %

Seacoast Banking Co. of Florida stock opened at $29.62 on Friday. The firm’s 50 day moving average price is $27.17 and its 200-day moving average price is $25.64. Seacoast Banking Co. of Florida has a 1 year low of $21.23 and a 1 year high of $30.78. The stock has a market cap of $2.53 billion, a P/E 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 (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. Seacoast Banking Co. of Florida’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts predict that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 52.17%.

Analyst Ratings Changes

SBCF has been the topic of a number of recent analyst reports. Truist Financial decreased 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $29.00 to $31.00 in a research report on Monday, July 29th. Finally, Stephens lifted their price objective 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $28.70.

Insider Buying and Selling

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 on Monday, November 11th. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

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.