Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lifted its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,300 shares of the financial services provider’s stock after acquiring an additional 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Seacoast Banking Co. of Florida were worth $1,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in Seacoast Banking Co. of Florida during the fourth quarter worth $25,000. Janney Montgomery Scott LLC raised its holdings in shares of 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 during the period. SG Americas Securities LLC acquired a new position in Seacoast Banking Co. of Florida during the 1st quarter worth about $263,000. Dakota Wealth Management boosted its holdings in Seacoast Banking Co. of Florida by 16.7% during the 2nd quarter. Dakota Wealth Management now owns 10,515 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 1,507 shares during the period. Finally, Pitcairn Co. grew its position in Seacoast Banking Co. of Florida by 8.2% in the 1st quarter. Pitcairn Co. now owns 11,076 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 839 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Insider Activity 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 shares were sold at an average price of $27.00, for a total transaction of $432,000.00. Following the completion of the sale, the director now owns 234,312 shares in the company, valued at approximately $6,326,424. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by corporate insiders.

Seacoast Banking Co. of Florida Stock Down 2.1 %

Shares of Seacoast Banking Co. of Florida stock opened at $26.85 on Wednesday. Seacoast Banking Co. of Florida has a 52-week low of $19.04 and a 52-week high of $29.98. The company has a 50 day moving average of $25.53 and a 200 day moving average of $24.43. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.28 billion, a P/E ratio of 19.18 and a beta of 1.10.

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

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Friday, September 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 51.43%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBCF. 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. Truist Financial raised their price target on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.50.

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.