GSA Capital Partners LLP Acquires Shares of 13,800 Seacoast Banking Co. of Florida (NASDAQ:SBCF)

GSA Capital Partners LLP purchased a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,800 shares of the financial services provider’s stock, valued at approximately $368,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Seacoast Banking Co. of Florida by 73.4% in the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 412 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter worth approximately $55,000. Algert Global LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter worth approximately $202,000. Janney Montgomery Scott LLC grew its stake in shares of Seacoast Banking Co. of Florida by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 460 shares during the last quarter. Finally, Xcel Wealth Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 3rd quarter worth approximately $223,000. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock opened at $30.01 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $2.56 billion, a P/E ratio of 21.88 and a beta of 1.07. The firm has a 50 day simple moving average of $27.41 and a 200 day simple moving average of $25.81. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $30.78.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. Research analysts anticipate that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Wall Street Analyst Weigh In

SBCF has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Truist Financial lowered their price objective on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Stephens raised their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Finally, Hovde Group cut shares of 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 report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $28.70.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the sale, the chief executive officer now directly owns 126,232 shares in the company, valued at $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

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.