Amalgamated Bank Sells 832 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Amalgamated Bank cut its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,890 shares of the financial services provider’s stock after selling 832 shares during the quarter. Amalgamated Bank’s holdings in Seacoast Banking Co. of Florida were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 412 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the second quarter worth about $55,000. Janney Montgomery Scott LLC grew its stake in shares of Seacoast Banking Co. of Florida by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 460 shares during the last quarter. Xcel Wealth Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the third quarter worth about $223,000. Finally, Algert Global LLC purchased a new stake in Seacoast Banking Co. of Florida in the second quarter worth about $202,000. 81.77% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Charles M. Shaffer sold 21,255 shares of the business’s 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 completion of the transaction, the chief executive officer now directly owns 126,232 shares in the company, valued at $3,832,403.52. The trade was a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on SBCF shares. 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 stock from $29.00 to $31.00 in a report on Monday, July 29th. Stephens raised their price objective on shares of 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. Keefe, Bruyette & Woods restated 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, Truist Financial lowered their price objective on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.70.

Seacoast Banking Co. of Florida Price Performance

SBCF stock opened at $29.50 on Friday. The firm has a 50 day moving average price of $27.23 and a 200-day moving average price of $25.68. Seacoast Banking Co. of Florida has a 52-week low of $21.23 and a 52-week high of $30.78. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 21.38 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its 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 net margin of 14.55% and a return on equity of 5.44%. The firm had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.20 million. During the same period last year, the business earned $0.37 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.42 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

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 dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.44%. Seacoast Banking Co. of Florida’s payout ratio is 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.