Stifel Financial Corp Trims Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Stifel Financial Corp lessened its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 73.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,831 shares of the financial services provider’s stock after selling 40,344 shares during the quarter. Stifel Financial Corp’s holdings in Seacoast Banking Co. of Florida were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. abrdn plc grew its holdings in shares of Seacoast Banking Co. of Florida by 10.9% during the 3rd quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock worth $29,914,000 after acquiring an additional 110,582 shares during the period. First Eagle Investment Management LLC grew its stake in Seacoast Banking Co. of Florida by 19.9% in the second quarter. First Eagle Investment Management LLC now owns 628,351 shares of the financial services provider’s stock worth $14,854,000 after purchasing an additional 104,400 shares during the period. Ceredex Value Advisors LLC raised its holdings in Seacoast Banking Co. of Florida by 24.2% in the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock worth $12,551,000 after purchasing an additional 91,900 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Seacoast Banking Co. of Florida by 2.8% during the second quarter. Westwood Holdings Group Inc. now owns 3,210,657 shares of the financial services provider’s stock valued at $75,900,000 after buying an additional 88,757 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of Seacoast Banking Co. of Florida by 4.7% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,689,888 shares of the financial services provider’s stock valued at $39,949,000 after buying an additional 76,001 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

Shares of Seacoast Banking Co. of Florida stock opened at $27.26 on Friday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 19.75 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick 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 firm’s 50-day moving average is $28.68 and its 200 day moving average is $26.80.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The firm had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal 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 issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SBCF shares. Stephens increased their price target on shares of 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 lowered 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 report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.70.

Insider Transactions at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida 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 sale, the chief executive officer now directly owns 126,232 shares in the company, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida 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.