Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,933 shares of the financial services provider’s stock after acquiring an additional 1,636 shares during the quarter. Victory Capital Management Inc.’s holdings in Seacoast Banking Co. of Florida were worth $931,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 412 shares during the period. Innealta Capital LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the second quarter valued at $55,000. Algert Global LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the second quarter valued at $202,000. Xcel Wealth Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the third quarter valued at $223,000. Finally, Creative Planning acquired a new position in shares of Seacoast Banking Co. of Florida during the third quarter valued at $231,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

Shares of Seacoast Banking Co. of Florida stock opened at $30.28 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $27.69 and its two-hundred day moving average price is $26.00. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The stock has a market cap of $2.59 billion, a PE ratio of 22.01 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued 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. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The firm had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. During the same period in the previous year, the business earned $0.37 earnings per share. Seacoast Banking Co. of Florida’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.41 EPS 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 Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Ratings Changes

Several equities analysts have recently issued reports 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 report on Wednesday, August 21st. Stephens lifted their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Finally, Truist Financial cut 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and a consensus price target of $28.70.

Insiders Place Their Bets

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

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.