Natixis Advisors LLC Has $789,000 Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Natixis Advisors LLC cut its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,381 shares of the financial services provider’s stock after selling 1,871 shares during the quarter. Natixis Advisors LLC’s holdings in Seacoast Banking Co. of Florida were worth $789,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SBCF. Innealta Capital LLC bought a new position in shares of Seacoast Banking Co. of Florida during the 2nd quarter worth about $55,000. Janney Montgomery Scott LLC increased its position in Seacoast Banking Co. of Florida by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after buying an additional 460 shares in the last quarter. SG Americas Securities LLC acquired a new position in Seacoast Banking Co. of Florida during the 1st quarter worth approximately $263,000. Dakota Wealth Management boosted its holdings in Seacoast Banking Co. of Florida by 16.7% in the second quarter. Dakota Wealth Management now owns 10,515 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 1,507 shares in the last quarter. Finally, Pitcairn Co. boosted its holdings in Seacoast Banking Co. of Florida by 8.2% in the first quarter. Pitcairn Co. now owns 11,076 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 839 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Up 0.5 %

Shares of NASDAQ:SBCF opened at $26.31 on Friday. The business’s 50 day moving average is $26.39 and its 200 day moving average is $24.60. Seacoast Banking Co. of Florida has a 12-month low of $19.04 and a 12-month high of $29.98. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 18.77 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $201.99 million for the quarter, compared to the consensus estimate of $126.00 million. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. During the same period in the previous year, the firm earned $0.37 EPS. On average, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.44 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, September 13th. Seacoast Banking Co. of Florida’s payout ratio is 51.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Truist Financial boosted their price objective on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Hovde Group lowered shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $29.00 to $31.00 in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $29.88.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, Director Dennis S. Hudson III sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the transaction, the director now owns 234,312 shares in the company, valued at approximately $6,326,424. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company’s stock.

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.