Neville Rodie & Shaw Inc. Acquires New Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Neville Rodie & Shaw Inc. bought a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,500 shares of the financial services provider’s stock, valued at approximately $206,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its holdings in Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock worth $112,978,000 after acquiring an additional 28,066 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Seacoast Banking Co. of Florida by 7.9% during the third quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock worth $111,144,000 after buying an additional 305,843 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Seacoast Banking Co. of Florida by 2.8% in the second quarter. Westwood Holdings Group Inc. now owns 3,210,657 shares of the financial services provider’s stock valued at $75,900,000 after acquiring an additional 88,757 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Seacoast Banking Co. of Florida by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider’s stock worth $70,949,000 after acquiring an additional 27,287 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Seacoast Banking Co. of Florida by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock worth $53,959,000 after acquiring an additional 23,396 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Down 0.3 %

NASDAQ SBCF opened at $26.81 on Tuesday. 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 capitalization of $2.29 billion, a price-to-earnings ratio of 19.43 and a beta of 1.09. The stock’s 50 day moving average is $28.70 and its two-hundred day moving average is $27.08. 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 (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, meeting analysts’ consensus estimates of $0.36. The firm 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 business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. Equities analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SBCF. Stephens raised their price target on shares of 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. Truist Financial lowered their price target on 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. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.70.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.