Venturi Wealth Management LLC Invests $76,000 in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Venturi Wealth Management LLC purchased a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,750 shares of the financial services provider’s stock, valued at approximately $76,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBCF. State Street Corp boosted its position in shares of Seacoast Banking Co. of Florida by 0.7% in the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock valued at $112,978,000 after acquiring an additional 28,066 shares during the period. Wellington Management Group LLP raised its stake in Seacoast Banking Co. of Florida by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock worth $111,144,000 after purchasing an additional 305,843 shares in the last quarter. Geode Capital Management LLC raised its stake in Seacoast Banking Co. of Florida by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock worth $53,959,000 after purchasing an additional 23,396 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,846,418 shares of the financial services provider’s stock worth $49,207,000 after purchasing an additional 13,567 shares in the last quarter. Finally, abrdn plc raised its stake in Seacoast Banking Co. of Florida by 10.9% in the 3rd quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock worth $29,914,000 after purchasing an additional 110,582 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stephens lifted 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 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 research note on Monday, October 28th. Raymond James reiterated an “outperform” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.40.

Seacoast Banking Co. of Florida Price Performance

SBCF stock opened at $27.91 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12 month low of $21.90 and a 12 month high of $31.68. The firm has a market cap of $2.38 billion, a P/E ratio of 19.52 and a beta of 1.08. The company’s 50-day moving average price is $27.74 and its two-hundred day moving average price is $27.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. On average, analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 50.35%.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.