Mutual of America Capital Management LLC Sells 1,120 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Mutual of America Capital Management LLC trimmed its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,715 shares of the financial services provider’s stock after selling 1,120 shares during the period. Mutual of America Capital Management LLC’s holdings in Seacoast Banking Co. of Florida were worth $339,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SBCF. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 412 shares during the period. Innealta Capital LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at about $55,000. KBC Group NV lifted its stake in shares of Seacoast Banking Co. of Florida by 30.0% in the third 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 bought a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at about $202,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Seacoast Banking Co. of Florida in the third quarter valued at about $211,000. 81.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Seacoast Banking Co. of Florida Stock Down 0.3 %

Shares of SBCF opened at $30.28 on Friday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 21.94 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 has a 12 month low of $21.90 and a 12 month high of $31.68. The company has a 50-day moving average price of $27.75 and a two-hundred day moving average price of $26.03.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS 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%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. Equities analysts predict that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the sale, the chief executive officer now 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 filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

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.