Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Acquired by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC increased its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,846,418 shares of the financial services provider’s stock after purchasing an additional 13,567 shares during the quarter. Seacoast Banking Co. of Florida comprises about 0.7% of Segall Bryant & Hamill LLC’s portfolio, making the stock its 21st biggest position. Segall Bryant & Hamill LLC’s holdings in Seacoast Banking Co. of Florida were worth $49,207,000 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 grew its holdings in shares of Seacoast Banking Co. of Florida by 73.4% during 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 acquired a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at about $55,000. KBC Group NV grew its stake in Seacoast Banking Co. of Florida by 30.0% during the 3rd 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 position in Seacoast Banking Co. of Florida during the third quarter worth approximately $121,000. Finally, Algert Global LLC acquired a new position in Seacoast Banking Co. of Florida during the second quarter worth approximately $202,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Stock Down 0.2 %

Shares of NASDAQ SBCF opened at $29.31 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $27.34 and a 200 day moving average price of $25.79. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $30.78. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 21.24 and a beta of 1.07.

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, hitting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The business had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. During the same quarter in the previous year, the company earned $0.37 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.42 EPS 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. Stockholders of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Insider Transactions at Seacoast Banking Co. of Florida

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 dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stephens raised their target price 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 report on Monday, October 28th. Hovde Group downgraded 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 research report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Truist Financial lowered their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.