Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 849,811 shares of the financial services provider’s stock after acquiring an additional 56,897 shares during the period. Charles Schwab Investment Management Inc. owned about 0.99% of Seacoast Banking Co. of Florida worth $22,647,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC boosted its stake in Seacoast Banking Co. of Florida by 24.2% in the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock valued at $12,551,000 after acquiring an additional 91,900 shares during the period. F M Investments LLC bought a new stake in Seacoast Banking Co. of Florida during the second quarter worth approximately $7,601,000. Pier Capital LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 16.5% in the second quarter. Pier Capital LLC now owns 368,839 shares of the financial services provider’s stock valued at $8,719,000 after buying an additional 52,287 shares during the period. Curi RMB Capital LLC lifted its holdings in Seacoast Banking Co. of Florida by 5.0% in the 3rd quarter. Curi RMB Capital LLC now owns 544,914 shares of the financial services provider’s stock valued at $14,522,000 after acquiring an additional 26,121 shares during the last quarter. Finally, abrdn plc boosted its holdings in Seacoast Banking Co. of Florida by 10.9% during the third quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock worth $29,914,000 after buying an additional 110,582 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction dated Monday, November 11th. The stock was 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. This represents a 14.41 % decrease in their ownership of the stock. The sale 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 company insiders.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ SBCF opened at $29.81 on Friday. Seacoast Banking Co. of Florida has a one year low of $21.90 and a one year high of $31.68. 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 business has a fifty day simple moving average of $28.10 and a 200 day simple moving average of $26.26. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 21.60 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $130.30 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. Sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.41 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 Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 2.42%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SBCF shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Stephens raised 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 report on Monday, October 28th. Finally, Truist Financial reduced their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $28.70.

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.