Y Intercept Hong Kong Ltd Buys Shares of 8,722 Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Y Intercept Hong Kong Ltd purchased a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,722 shares of the financial services provider’s stock, valued at approximately $232,000.

Several other institutional investors have also recently made changes to their positions in SBCF. Dakota Wealth Management grew its holdings in Seacoast Banking Co. of Florida by 16.7% during the 2nd quarter. Dakota Wealth Management now owns 10,515 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 1,507 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Seacoast Banking Co. of Florida by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 42,300 shares of the financial services provider’s stock valued at $1,000,000 after buying an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Seacoast Banking Co. of Florida by 5.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,429 shares of the financial services provider’s stock worth $530,000 after buying an additional 1,154 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Seacoast Banking Co. of Florida by 3.8% during the second quarter. Panagora Asset Management Inc. now owns 224,964 shares of the financial services provider’s stock worth $5,318,000 after buying an additional 8,310 shares during the period. Finally, F M Investments LLC bought a new stake in Seacoast Banking Co. of Florida during the 2nd quarter valued at $7,601,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Down 5.5 %

Shares of SBCF stock opened at $26.66 on Thursday. The stock’s fifty day moving average price is $28.63 and its 200 day moving average price is $26.63. 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 $21.90 and a 1-year high of $31.68. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 19.32 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data 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 firm had revenue of $130.30 million for the quarter, compared to the consensus estimate of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, research analysts expect that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.70%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SBCF shares. Stephens boosted their price target on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 target price on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Truist Financial decreased their price target on shares of 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.70.

Insider Transactions at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the transaction, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at $3,832,403.52. This represents a 14.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

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.