Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stake Raised by KBC Group NV

KBC Group NV boosted its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 33.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,447 shares of the financial services provider’s stock after buying an additional 1,121 shares during the quarter. KBC Group NV’s holdings in Seacoast Banking Co. of Florida were worth $122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 0.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 51,132 shares of the financial services provider’s stock valued at $1,363,000 after purchasing an additional 383 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $26,000 after buying an additional 412 shares during the last quarter. Trust Point Inc. boosted its position in shares of Seacoast Banking Co. of Florida by 2.8% in the third quarter. Trust Point Inc. now owns 22,903 shares of the financial services provider’s stock valued at $610,000 after acquiring an additional 617 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 1.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 49,698 shares of the financial services provider’s stock worth $1,324,000 after purchasing an additional 659 shares during the period. Finally, Pier Capital LLC lifted its position in shares of Seacoast Banking Co. of Florida by 0.3% in the 3rd quarter. Pier Capital LLC now owns 369,959 shares of the financial services provider’s stock worth $9,859,000 after acquiring an additional 1,120 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Down 0.8 %

Seacoast Banking Co. of Florida stock opened at $29.09 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The company has a fifty day simple moving average of $27.87 and a 200 day simple moving average of $27.50. The company has a market cap of $2.49 billion, a P/E ratio of 20.34 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. Research analysts anticipate that Seacoast Banking Co. of Florida will post 1.62 earnings per share 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 Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is 50.35%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SBCF shares. Stephens lifted their target price 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. Raymond James reiterated an “outperform” rating and issued a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Truist Financial cut their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.40.

Insider Activity at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the transaction, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This trade represents 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 owned by company insiders.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.