Rep. Jared Moskowitz Sells Off Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Representative Jared Moskowitz (D-Florida) recently sold shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF). In a filing disclosed on December 09th, the Representative disclosed that they had sold between $50,001 and $100,000 in Seacoast Banking Co. of Florida stock on November 8th. The trade occurred in the Representative’s “MORGAN STANLEY ACTIVE ASSETS (5)” account.

Representative Jared Moskowitz also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Atmos Energy (NYSE:ATO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Elevance Health (NYSE:ELV) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 11/8/2024.
• Sold $15,001 – $50,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.

Seacoast Banking Co. of Florida Stock Down 0.5 %

Seacoast Banking Co. of Florida stock opened at $29.49 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $2.52 billion, a PE ratio of 21.37 and a beta of 1.08. The business has a 50 day simple moving average of $28.31 and a 200-day simple moving average of $26.42. Seacoast Banking Co. of Florida has a 12 month low of $21.90 and a 12 month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. On average, analysts anticipate that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.44%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial reduced 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 research report on Monday, October 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Stephens boosted their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.70.

Insiders Place Their Bets

In related news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the transaction, the chief executive officer now owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This represents a 14.41 % decrease in their position. 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.

Institutional Trading of Seacoast Banking Co. of Florida

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Seacoast Banking Co. of Florida by 73.4% in the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 412 shares during the period. Innealta Capital LLC purchased a new position in shares of Seacoast Banking Co. of Florida during the 2nd quarter worth $55,000. KBC Group NV increased its position in shares of Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 768 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Seacoast Banking Co. of Florida in the 3rd quarter valued at about $121,000. Finally, FMR LLC lifted its position in Seacoast Banking Co. of Florida by 57.3% in the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,960 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida’s 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state’s Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor’s degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz’s career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

Seacoast Banking Co. of Florida Company 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.