Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock Position Decreased by Farther Finance Advisors LLC

Farther Finance Advisors LLC lowered its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 83.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,253 shares of the financial services provider’s stock after selling 6,104 shares during the period. Farther Finance Advisors LLC’s holdings in Seacoast Banking Co. of Florida were worth $33,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings 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 period. Innealta Capital LLC bought a new stake in shares of Seacoast Banking Co. of Florida during the second quarter worth approximately $55,000. Algert Global LLC bought a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter worth $202,000. Janney Montgomery Scott LLC raised its position 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 valued at $206,000 after acquiring an additional 460 shares during the period. Finally, Xcel Wealth Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at $223,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SBCF. Stephens upped their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Hovde Group cut Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $29.00 to $31.00 in a research note on Monday, July 29th. Truist Financial reduced their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus target price of $28.70.

Insider Activity

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s 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 transaction, the chief executive officer now owns 126,232 shares in the company, valued at $3,832,403.52. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida Stock Down 0.6 %

Shares of NASDAQ SBCF opened at $29.62 on Friday. The company’s fifty day simple moving average is $27.17 and its 200 day simple moving average is $25.64. Seacoast Banking Co. of Florida has a 12-month low of $21.23 and a 12-month high of $30.78. The firm has a market cap of $2.53 billion, a PE ratio of 21.46 and a beta of 1.07. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, meeting 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 business had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. During the same quarter last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Seacoast Banking Co. of Florida Company 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.