Victory Capital Management Inc. Has $931,000 Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Victory Capital Management Inc. boosted its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,933 shares of the financial services provider’s stock after buying an additional 1,636 shares during the period. Victory Capital Management Inc.’s holdings in Seacoast Banking Co. of Florida were worth $931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after buying an additional 412 shares during the period. Innealta Capital LLC acquired a new stake in Seacoast Banking Co. of Florida during the 2nd quarter worth about $55,000. Algert Global LLC acquired a new stake in Seacoast Banking Co. of Florida during the 2nd quarter worth about $202,000. Xcel Wealth Management LLC acquired a new stake in Seacoast Banking Co. of Florida during the 3rd quarter worth about $223,000. Finally, Creative Planning purchased a new position in Seacoast Banking Co. of Florida during the 3rd quarter valued at about $231,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Insider Activity at Seacoast Banking Co. of Florida

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 stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the sale, the chief executive officer now owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.

Seacoast Banking Co. of Florida Trading Down 0.3 %

Shares of NASDAQ SBCF opened at $30.28 on Thursday. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of 22.01 and a beta of 1.07. The business has a 50 day simple moving average of $27.69 and a 200 day simple moving average of $26.00. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. 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 announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate 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 return on equity of 5.44% and a net margin of 14.55%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. On average, research analysts predict that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.38%. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

Analysts Set New Price Targets

Several research firms have weighed in on SBCF. Stephens lifted their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Truist Financial lowered 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and an average price target of $28.70.

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.