Texas Permanent School Fund Corp Has $1.76 Million Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Texas Permanent School Fund Corp lifted its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,241 shares of the financial services provider’s stock after acquiring an additional 438 shares during the period. Texas Permanent School Fund Corp owned approximately 0.09% of Seacoast Banking Co. of Florida worth $1,755,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SBCF. Westwood Holdings Group Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 15.3% in the first quarter. Westwood Holdings Group Inc. now owns 3,121,900 shares of the financial services provider’s stock worth $79,265,000 after acquiring an additional 414,037 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the fourth quarter worth $10,179,000. Franklin Resources Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 20.6% in the fourth quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock worth $58,262,000 after acquiring an additional 349,147 shares during the last quarter. F M Investments LLC bought a new position in Seacoast Banking Co. of Florida in the second quarter worth $7,601,000. Finally, Dimensional Fund Advisors LP lifted its position in Seacoast Banking Co. of Florida by 11.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock worth $84,814,000 after purchasing an additional 310,499 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Insider Activity at Seacoast Banking Co. of Florida

In related news, Director Dennis S. Hudson III sold 16,000 shares of the firm’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 sale, 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. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Truist Financial raised their target price on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Hovde Group cut Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $29.00 to $31.00 in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.88.

Seacoast Banking Co. of Florida Stock Up 0.3 %

Shares of NASDAQ SBCF opened at $27.37 on Thursday. The stock has a market cap of $2.32 billion, a PE ratio of 19.55 and a beta of 1.08. The business has a fifty day moving average of $26.74 and a two-hundred day moving average of $24.71. Seacoast Banking Co. of Florida has a 52-week low of $19.04 and a 52-week high of $29.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The company had revenue of $201.99 million during the quarter, compared to analysts’ expectations of $126.00 million. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. During the same period last year, the business earned $0.37 earnings per share. As a group, equities research analysts expect that Seacoast Banking Co. of Florida will post 1.44 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, September 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.63%. Seacoast Banking Co. of Florida’s dividend payout ratio is 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.