Natixis Advisors LLC Has $929,000 Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Natixis Advisors LLC boosted its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,843 shares of the financial services provider’s stock after purchasing an additional 1,462 shares during the quarter. Natixis Advisors LLC’s holdings in Seacoast Banking Co. of Florida were worth $929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position 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 purchasing an additional 412 shares during the period. Innealta Capital LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at $55,000. KBC Group NV lifted its holdings in shares of Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 768 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Seacoast Banking Co. of Florida during the 3rd quarter valued at about $211,000. Finally, Xcel Wealth Management LLC bought a new stake in Seacoast Banking Co. of Florida in the third quarter valued at about $223,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Trading Down 0.3 %

Shares of NASDAQ SBCF opened at $30.28 on Thursday. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68. The firm has a market capitalization of $2.59 billion, a P/E ratio of 21.94 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day simple moving average is $27.69 and its 200 day simple moving average is $26.00.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $130.30 million during the quarter, compared to the consensus estimate of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.38%. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

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 that occurred on Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the sale, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SBCF shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Stephens upped their target price 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. Finally, Truist Financial cut their price target on shares of 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. Three equities 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, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and a consensus 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.