Wellington Management Group LLP Sells 45,828 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Wellington Management Group LLP lessened its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,551,911 shares of the financial services provider’s stock after selling 45,828 shares during the period. Wellington Management Group LLP owned about 0.05% of Seacoast Banking Co. of Florida worth $129,547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of SBCF. Russell Investments Group Ltd. grew its stake in Seacoast Banking Co. of Florida by 70.9% in the 4th quarter. Russell Investments Group Ltd. now owns 375,529 shares of the financial services provider’s stock valued at $10,688,000 after buying an additional 155,776 shares in the last quarter. Schroder Investment Management Group grew its stake in Seacoast Banking Co. of Florida by 10.2% in the 4th quarter. Schroder Investment Management Group now owns 551,327 shares of the financial services provider’s stock valued at $15,691,000 after buying an additional 50,902 shares in the last quarter. One Wealth Management Investment & Advisory Services LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at approximately $1,321,000. Otter Creek Advisors LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at approximately $2,376,000. Finally, Deutsche Bank AG grew its stake in Seacoast Banking Co. of Florida by 14.0% in the 3rd quarter. Deutsche Bank AG now owns 40,874 shares of the financial services provider’s stock valued at $898,000 after buying an additional 5,019 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Up 0.8 %

SBCF opened at $22.59 on Friday. The company has a fifty day moving average price of $23.28 and a 200-day moving average price of $24.80. The firm has a market capitalization of $1.92 billion, a P/E ratio of 16.14 and a beta of 1.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a one year low of $19.04 and a one year high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. The company had revenue of $125.58 million for the quarter, compared to the consensus estimate of $127.95 million. Equities research analysts expect that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Friday, June 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 51.43%.

Analyst Ratings Changes

SBCF has been the subject of a number of recent research reports. Hovde Group reduced their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Keefe, Bruyette & Woods upgraded shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $26.00 to $27.00 in a research note on Friday, May 31st. Finally, Truist Financial reduced their price objective on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.30.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, EVP James C. Stallings III sold 3,855 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.44, for a total transaction of $94,216.20. Following the completion of the sale, the executive vice president now directly owns 3,961 shares of the company’s stock, valued at approximately $96,806.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

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.