UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 22,084 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 12.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,866 shares of the financial services provider’s stock after selling 22,084 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of Seacoast Banking Co. of Florida worth $3,967,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in 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 acquiring an additional 412 shares during the period. Texas Permanent School Fund Corp lifted its stake in Seacoast Banking Co. of Florida by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 74,241 shares of the financial services provider’s stock worth $1,755,000 after acquiring an additional 438 shares during the period. Louisiana State Employees Retirement System lifted its stake in Seacoast Banking Co. of Florida by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 42,300 shares of the financial services provider’s stock worth $1,000,000 after acquiring an additional 500 shares during the period. Trust Point Inc. lifted its stake in Seacoast Banking Co. of Florida by 2.8% in the third quarter. Trust Point Inc. now owns 22,903 shares of the financial services provider’s stock worth $610,000 after acquiring an additional 617 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Seacoast Banking Co. of Florida by 1.3% in the third quarter. PNC Financial Services Group Inc. now owns 49,698 shares of the financial services provider’s stock worth $1,324,000 after acquiring an additional 659 shares during the period. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Down 1.9 %

NASDAQ SBCF opened at $29.10 on Friday. The stock’s 50 day moving average is $28.45 and its 200 day moving average is $26.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12 month low of $21.90 and a 12 month high of $31.68. The stock has a market cap of $2.49 billion, a PE ratio of 21.09 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $130.30 million for 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 company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. Research analysts predict that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 52.17%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SBCF. Stephens raised their price objective on 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. Keefe, Bruyette & Woods reissued 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. Finally, Truist Financial lowered their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.70.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of the 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 transaction, the chief executive officer now owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This represents a 14.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate 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.