SG Americas Securities LLC Reduces Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

SG Americas Securities LLC lessened its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 87.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,235 shares of the financial services provider’s stock after selling 29,677 shares during the quarter. SG Americas Securities LLC’s holdings in Seacoast Banking Co. of Florida were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Algert Global LLC purchased a new position in shares of Seacoast Banking Co. of Florida during the 2nd quarter valued at $202,000. The Manufacturers Life Insurance Company lifted its stake in shares of Seacoast Banking Co. of Florida by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,424 shares of the financial services provider’s stock valued at $1,121,000 after buying an additional 1,317 shares in the last quarter. Deprince Race & Zollo Inc. lifted its stake in Seacoast Banking Co. of Florida by 4.7% in 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 purchasing an additional 76,001 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Seacoast Banking Co. of Florida in the 2nd quarter worth $334,000. Finally, Insigneo Advisory Services LLC lifted its stake in Seacoast Banking Co. of Florida by 495.0% in the 2nd quarter. Insigneo Advisory Services LLC now owns 47,601 shares of the financial services provider’s stock worth $1,183,000 after purchasing an additional 39,601 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock opened at $26.33 on Friday. The company’s 50-day moving average price is $26.75 and its 200-day moving average price is $25.12. Seacoast Banking Co. of Florida has a twelve month low of $19.67 and a twelve month high of $29.98. 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 cap of $2.24 billion, a PE ratio of 18.94 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. 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 $130.30 million for the quarter, compared to the consensus estimate of $129.20 million. During the same period in the previous year, the firm posted $0.37 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.43 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.73%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 51.80%.

Analyst Upgrades and Downgrades

Several analysts have commented on SBCF shares. 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. Truist Financial boosted their price target on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.88.

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.