Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 3.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,030,200 shares of the financial services provider’s stock after acquiring an additional 206,002 shares during the period. Vanguard Group Inc. owned about 0.07% of Seacoast Banking Co. of Florida worth $171,619,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Comerica Bank boosted its holdings in Seacoast Banking Co. of Florida by 1.7% during the fourth quarter. Comerica Bank now owns 54,192 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 886 shares in the last quarter. RMB Capital Management LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 0.6% during the 4th quarter. RMB Capital Management LLC now owns 481,952 shares of the financial services provider’s stock worth $13,716,000 after acquiring an additional 2,829 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Seacoast Banking Co. of Florida by 10.2% during the 4th quarter. Schroder Investment Management Group now owns 551,327 shares of the financial services provider’s stock worth $15,691,000 after acquiring an additional 50,902 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 32.0% in the 4th quarter. Rafferty Asset Management LLC now owns 104,572 shares of the financial services provider’s stock worth $2,976,000 after acquiring an additional 25,370 shares during the last quarter. Finally, Otter Creek Advisors LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth $2,376,000. Institutional investors own 81.77% of the company’s stock.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In related news, EVP James C. Stallings III sold 3,855 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.44, for a total value of $94,216.20. Following the completion of the sale, the executive vice president now directly owns 3,961 shares in the company, valued at approximately $96,806.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SBCF. Hovde Group decreased their price target on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Truist Financial dropped their target price on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Finally, Keefe, Bruyette & Woods upgraded shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and upped their price target for the company from $26.00 to $27.00 in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.30.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF stock opened at $23.25 on Thursday. Seacoast Banking Co. of Florida has a fifty-two week low of $19.04 and a fifty-two week high of $29.98. The stock’s 50-day moving average is $23.34 and its two-hundred day moving average is $24.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $1.97 billion, a P/E ratio of 16.61 and a beta of 1.10.

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

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, June 14th. Seacoast Banking Co. of Florida’s payout ratio is 51.43%.

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.