Rhumbline Advisers Purchases 1,704 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Rhumbline Advisers lifted its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 264,127 shares of the financial services provider’s stock after purchasing an additional 1,704 shares during the period. Rhumbline Advisers owned 0.31% of Seacoast Banking Co. of Florida worth $6,244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sei Investments Co. raised its holdings in Seacoast Banking Co. of Florida by 63.8% in the 1st quarter. Sei Investments Co. now owns 205,996 shares of the financial services provider’s stock valued at $5,230,000 after buying an additional 80,220 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Seacoast Banking Co. of Florida during the 1st quarter valued at $1,325,000. William Blair Investment Management LLC lifted its stake in Seacoast Banking Co. of Florida by 24.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock worth $29,710,000 after purchasing an additional 226,132 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Seacoast Banking Co. of Florida by 23.9% during the first quarter. Russell Investments Group Ltd. now owns 465,273 shares of the financial services provider’s stock valued at $11,813,000 after purchasing an additional 89,744 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Seacoast Banking Co. of Florida by 10.2% in the 4th quarter. Schroder Investment Management Group now owns 551,327 shares of the financial services provider’s stock worth $15,691,000 after buying an additional 50,902 shares during the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Truist Financial upped their price target on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, 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 company from $29.00 to $31.00 in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $29.88.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In related news, Director Dennis S. Hudson III sold 16,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total transaction of $432,000.00. Following the completion of the transaction, the director now directly owns 234,312 shares of the company’s stock, valued at approximately $6,326,424. 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 corporate insiders.

Seacoast Banking Co. of Florida Stock Up 3.7 %

SBCF stock opened at $27.11 on Friday. Seacoast Banking Co. of Florida has a one year low of $19.04 and a one year high of $29.98. The firm has a market cap of $2.30 billion, a PE ratio of 19.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average is $26.54 and its 200 day moving average is $24.64.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The business had revenue of $201.99 million for the quarter, compared to the consensus estimate of $126.00 million. During the same quarter last year, the business posted $0.37 earnings per share. On average, research analysts forecast that Seacoast Banking Co. of Florida will post 1.44 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.18 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.66%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 51.43%.

Seacoast Banking Co. of Florida 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.