ZWJ Investment Counsel Inc. Takes $203,000 Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

ZWJ Investment Counsel Inc. purchased a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the 4th quarter, Holdings Channel.com reports. The firm purchased 7,367 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also modified their holdings of SBCF. American Century Companies Inc. boosted its holdings in shares of Seacoast Banking Co. of Florida by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 146,815 shares of the financial services provider’s stock valued at $3,471,000 after buying an additional 16,383 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Seacoast Banking Co. of Florida by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider’s stock valued at $70,949,000 after buying an additional 27,287 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 83.2% in the 2nd quarter. Renaissance Technologies LLC now owns 78,605 shares of the financial services provider’s stock valued at $1,858,000 after buying an additional 35,700 shares during the period. Intech Investment Management LLC bought a new stake in Seacoast Banking Co. of Florida in the 2nd quarter valued at about $263,000. Finally, Sei Investments Co. lifted its position in Seacoast Banking Co. of Florida by 36.7% in the 2nd quarter. Sei Investments Co. now owns 281,601 shares of the financial services provider’s stock valued at $6,657,000 after purchasing an additional 75,605 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on SBCF. 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. Truist Financial cut 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.70.

Seacoast Banking Co. of Florida Stock Up 0.3 %

SBCF stock opened at $27.16 on Wednesday. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 19.68 and a beta of 1.09. The firm’s 50-day moving average is $28.34 and its two-hundred day moving average is $27.35. 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 released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $129.20 million. During the same period in the previous year, the firm earned $0.37 EPS. Seacoast Banking Co. of Florida’s revenue was up 5.5% on a year-over-year basis. On average, analysts forecast that Seacoast Banking Co. of Florida will post 1.39 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.18 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.65%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Insider Transactions 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

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.