Y Intercept Hong Kong Ltd Acquires Shares of 8,722 Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Y Intercept Hong Kong Ltd acquired a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 8,722 shares of the financial services provider’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SBCF. GAMMA Investing LLC boosted its holdings in 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 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 boosted its stake in shares of Seacoast Banking Co. of Florida by 30.0% in the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $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 raised its position in Seacoast Banking Co. of Florida by 57.3% during the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 1,960 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Trading Down 5.5 %

Shares of SBCF stock opened at $26.66 on Thursday. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 19.32 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $28.63 and a 200-day simple moving average of $26.63.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data 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. The business had revenue of $130.30 million for the quarter, compared to the consensus estimate of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. On average, equities research analysts expect that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

Analyst Ratings Changes

SBCF has been the topic of a number of analyst reports. 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 research note on Monday, October 28th. Truist Financial dropped their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.70.

Insiders Place Their Bets

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 on Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the sale, the chief executive officer now owns 126,232 shares of the company’s stock, valued at $3,832,403.52. The trade was a 14.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

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.