Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 3.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,030,200 shares of the financial services provider’s stock after purchasing an additional 206,002 shares during the quarter. Vanguard Group Inc. owned approximately 7.10% of Seacoast Banking Co. of Florida worth $171,619,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SBCF. Wellington Management Group LLP increased its position in Seacoast Banking Co. of Florida by 31.7% during the third quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock worth $100,966,000 after purchasing an additional 1,106,724 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Seacoast Banking Co. of Florida by 11.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock worth $84,814,000 after buying an additional 310,499 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Seacoast Banking Co. of Florida by 20.6% during the 4th quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock valued at $58,262,000 after buying an additional 349,147 shares during the period. Northern Trust Corp lifted its holdings in Seacoast Banking Co. of Florida by 1.2% in the third quarter. Northern Trust Corp now owns 877,742 shares of the financial services provider’s stock valued at $19,275,000 after acquiring an additional 10,205 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Seacoast Banking Co. of Florida by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 681,592 shares of the financial services provider’s stock worth $19,398,000 after acquiring an additional 3,763 shares during the period. 81.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $26.00 to $27.00 in a report on Friday, May 31st. Hovde Group dropped their price target 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 report on Monday, April 29th. Finally, Truist Financial decreased their price objective on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.30.

Insider Activity 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 dated Monday, May 6th. The stock was sold at an average price of $24.44, for a total transaction of $94,216.20. Following the sale, the executive vice president now owns 3,961 shares in the company, valued at $96,806.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by corporate insiders.

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock opened at $23.25 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $23.34 and a 200-day simple moving average of $24.57. The stock has a market cap of $1.97 billion, a P/E ratio of 16.61 and a beta of 1.10. Seacoast Banking Co. of Florida has a 12-month low of $19.04 and a 12-month high of $29.98.

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

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, June 14th. This represents a $0.72 annualized dividend and a yield of 3.10%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 51.43%.

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.