Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 5.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 66,385 shares of the financial services provider’s stock after selling 3,490 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Seacoast Banking Co. of Florida were worth $1,769,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SBCF. Vanguard Group Inc. raised its position in Seacoast Banking Co. of Florida by 4.2% in the first quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock valued at $159,578,000 after purchasing an additional 254,887 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 2.8% in 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Seacoast Banking Co. of Florida by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider’s stock valued at $70,949,000 after buying an additional 27,287 shares during the period. Deprince Race & Zollo Inc. lifted its position in 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 worth $39,949,000 after acquiring an additional 76,001 shares in the last quarter. Finally, abrdn plc boosted its holdings in Seacoast Banking Co. of Florida by 10.9% in 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. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the sale, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Stephens raised their price target on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Truist Financial lowered their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and a consensus target price of $28.70.

Seacoast Banking Co. of Florida Trading Down 1.1 %

Shares of NASDAQ:SBCF opened at $29.96 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $27.79 and its 200 day moving average price is $26.06. The company has a market cap of $2.56 billion, a PE ratio of 21.71 and a beta of 1.07. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $130.30 million during 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%. Seacoast Banking Co. of Florida’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. Sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s payout ratio is currently 52.17%.

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.