Seacoast Banking Co. of Florida (NASDAQ:SBCF) Position Lifted by Barclays PLC

Barclays PLC raised its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 112.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 178,355 shares of the financial services provider’s stock after purchasing an additional 94,242 shares during the period. Barclays PLC owned 0.21% of Seacoast Banking Co. of Florida worth $4,754,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 412 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at about $55,000. KBC Group NV grew 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 valued at $89,000 after buying an additional 768 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Seacoast Banking Co. of Florida during the third quarter worth about $121,000. Finally, FMR LLC lifted its holdings 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 worth $143,000 after acquiring an additional 1,960 shares during the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

NASDAQ SBCF opened at $27.60 on Friday. Seacoast Banking Co. of Florida has a 12 month low of $21.90 and a 12 month high of $31.68. The firm has a market capitalization of $2.36 billion, a PE ratio of 20.00 and a beta of 1.08. The company’s 50 day simple moving average is $28.68 and its 200 day simple moving average is $26.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The company had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. During the same period last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.61%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 52.17%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SBCF. Stephens increased their price target on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Truist Financial cut their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average target price of $28.70.

Insider Transactions at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the transaction, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

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.