Fisher Asset Management LLC Sells 76,877 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Fisher Asset Management LLC reduced its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 12.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 529,294 shares of the financial services provider’s stock after selling 76,877 shares during the quarter. Fisher Asset Management LLC owned approximately 0.62% of Seacoast Banking Co. of Florida worth $15,064,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SBCF. Swiss National Bank grew its stake in shares of Seacoast Banking Co. of Florida by 1.0% during the 3rd quarter. Swiss National Bank now owns 186,000 shares of the financial services provider’s stock worth $4,085,000 after acquiring an additional 1,800 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,829 shares of the financial services provider’s stock worth $14,885,000 after acquiring an additional 39,183 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Seacoast Banking Co. of Florida by 14.0% during the 3rd quarter. Deutsche Bank AG now owns 40,874 shares of the financial services provider’s stock worth $898,000 after acquiring an additional 5,019 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Seacoast Banking Co. of Florida by 1.5% during the 3rd quarter. Rhumbline Advisers now owns 257,836 shares of the financial services provider’s stock worth $5,662,000 after acquiring an additional 3,917 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 12.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 61,905 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 6,628 shares in the last quarter. 81.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SBCF has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and raised their target price for the company from $26.00 to $27.00 in a research note on Friday, May 31st. Truist Financial decreased their target price on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Finally, Hovde Group decreased their target price on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.30.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, EVP James C. Stallings III sold 3,855 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, May 6th. The stock was sold at an average price of $24.44, for a total transaction of $94,216.20. Following the completion of the sale, the executive vice president now owns 3,961 shares of the company’s stock, valued at $96,806.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida Trading Down 1.1 %

SBCF stock opened at $22.41 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day moving average price of $23.28 and a two-hundred day moving average price of $24.84. Seacoast Banking Co. of Florida has a one year low of $19.04 and a one year high of $29.98. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 16.01 and a beta of 1.12.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. The firm had revenue of $125.58 million for the quarter, compared to analyst estimates of $127.95 million. Equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.42 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, June 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 51.43%.

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.