Victory Capital Management Inc. Purchases 2,030 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Victory Capital Management Inc. increased its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,297 shares of the financial services provider’s stock after buying an additional 2,030 shares during the quarter. Victory Capital Management Inc.’s holdings in Seacoast Banking Co. of Florida were worth $787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of SBCF. Vanguard Group Inc. raised its holdings in shares of Seacoast Banking Co. of Florida by 4.2% during the first quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock valued at $159,578,000 after acquiring an additional 254,887 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in 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 purchasing an additional 414,037 shares during the period. Franklin Resources Inc. grew its stake in 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 purchasing an additional 349,147 shares during the period. William Blair Investment Management LLC grew its stake in shares of Seacoast Banking Co. of Florida by 24.0% in the first quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock worth $29,710,000 after acquiring an additional 226,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 last quarter. Institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

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

Seacoast Banking Co. of Florida Stock Down 2.9 %

SBCF stock opened at $27.42 on Friday. Seacoast Banking Co. of Florida has a twelve month low of $19.04 and a twelve month high of $29.98. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.33 billion, a P/E ratio of 19.59 and a beta of 1.08. The business’s 50-day moving average price is $26.83 and its 200-day moving average price is $24.76.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $201.99 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.37 EPS. On average, equities 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 firm also recently disclosed 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. This represents a $0.72 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Friday, September 13th. Seacoast Banking Co. of Florida’s payout ratio is currently 51.43%.

Insiders Place Their Bets

In other Seacoast Banking Co. of Florida news, Director Dennis S. Hudson III sold 16,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the completion of the sale, the director now directly owns 234,312 shares in the company, valued at approximately $6,326,424. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company’s stock.

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.