Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Bought by Fmr LLC

Fmr LLC boosted its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 57.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,382 shares of the financial services provider’s stock after purchasing an additional 1,960 shares during the quarter. Fmr LLC’s holdings in Seacoast Banking Co. of Florida were worth $143,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SBCF. GAMMA Investing LLC lifted 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 in the last quarter. Innealta Capital LLC purchased a new position in shares of Seacoast Banking Co. of Florida in the second quarter worth about $55,000. KBC Group NV boosted its position in Seacoast Banking Co. of Florida by 30.0% during the third 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 last quarter. Meeder Asset Management Inc. acquired a new position in Seacoast Banking Co. of Florida during the third quarter worth about $121,000. Finally, CIBC Asset Management Inc purchased a new stake in Seacoast Banking Co. of Florida during the 3rd quarter valued at about $211,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF opened at $27.60 on Monday. The stock has a market capitalization of $2.36 billion, a P/E ratio of 20.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68. The company’s fifty day moving average is $28.68 and its two-hundred day moving average is $26.72.

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, hitting the consensus estimate of $0.36. The company had revenue of $130.30 million for the quarter, compared to analyst estimates 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 business’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. On average, sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business 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. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.61%. Seacoast Banking Co. of Florida’s payout ratio is currently 52.17%.

Wall Street Analyst Weigh In

SBCF has been the subject of a number of recent research reports. Stephens raised their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Truist Financial cut their price objective 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 report on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.70.

Insider Buying and Selling

In related 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 value of $645,301.80. Following the transaction, the chief executive officer now owns 126,232 shares in the company, 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 the SEC website. Corporate 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.