Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,026,578 shares of the financial services provider’s stock after buying an additional 67,567 shares during the quarter. Royce & Associates LP owned 1.21% of Seacoast Banking Co. of Florida worth $27,358,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in Seacoast Banking Co. of Florida by 63.8% in the first quarter. Sei Investments Co. now owns 205,996 shares of the financial services provider’s stock worth $5,230,000 after buying an additional 80,220 shares during the last quarter. Russell Investments Group Ltd. grew its position in Seacoast Banking Co. of Florida by 23.9% during the 1st quarter. Russell Investments Group Ltd. now owns 465,273 shares of the financial services provider’s stock worth $11,813,000 after purchasing an additional 89,744 shares in the last quarter. Ceredex Value Advisors LLC grew its position in Seacoast Banking Co. of Florida by 24.2% during the 3rd quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock worth $12,551,000 after purchasing an additional 91,900 shares in the last quarter. F M Investments LLC purchased a new position in Seacoast Banking Co. of Florida during the 2nd quarter worth approximately $7,601,000. Finally, Pier Capital LLC grew its position in Seacoast Banking Co. of Florida by 16.5% during the 2nd quarter. Pier Capital LLC now owns 368,839 shares of the financial services provider’s stock worth $8,719,000 after purchasing an additional 52,287 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SBCF shares. 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 stock from $29.00 to $31.00 in a research report on Monday, July 29th. 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. Stephens lifted their price objective 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. Finally, Truist Financial lowered their price objective 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 report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and an average target price of $28.70.

Seacoast Banking Co. of Florida Trading Down 0.4 %

Seacoast Banking Co. of Florida stock opened at $29.50 on Friday. The company’s fifty day simple moving average is $27.23 and its 200-day simple moving average is $25.68. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12 month low of $21.23 and a 12 month high of $30.78. The stock has a market cap of $2.52 billion, a P/E ratio of 21.38 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting 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 business had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. During the same period in the previous year, the company posted $0.37 EPS. Seacoast Banking Co. of Florida’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.42 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s payout ratio is presently 52.17%.

Insider Activity at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the business’s 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

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.