Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 5.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,385 shares of the financial services provider’s stock after selling 3,490 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Seacoast Banking Co. of Florida worth $1,769,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Seacoast Banking Co. of Florida by 73.4% in the third 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 period. Innealta Capital LLC purchased a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at about $55,000. KBC Group NV boosted its stake in shares of Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after buying an additional 768 shares during the period. Algert Global LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the second quarter worth about $202,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Seacoast Banking Co. of Florida during the third quarter worth approximately $211,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Insider Activity at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares of the company’s stock, valued at $3,832,403.52. The trade was a 14.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SBCF. Stephens boosted their price target 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Truist Financial cut their price target on 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.70.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF opened at $29.96 on Friday. The stock has a market cap of $2.56 billion, a P/E ratio of 21.71 and a beta of 1.07. Seacoast Banking Co. of Florida has a twelve month low of $21.90 and a twelve month high of $31.68. The stock has a 50 day moving average of $27.79 and a two-hundred day moving average of $26.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The firm 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%. Seacoast Banking Co. of Florida’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS. On average, research analysts forecast that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

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

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.