Teacher Retirement System of Texas increased its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) by 11.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,932 shares of the financial services provider’s stock after acquiring an additional 1,237 shares during the quarter. Teacher Retirement System of Texas’ holdings in Seacoast Banking Co. of Florida were worth $418,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Maryland State Retirement & Pension System lifted its holdings in shares of Seacoast Banking Co. of Florida by 1.5% during the 1st quarter. Maryland State Retirement & Pension System now owns 23,602 shares of the financial services provider’s stock valued at $827,000 after acquiring an additional 340 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 5.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 8,430 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 458 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Seacoast Banking Co. of Florida by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 21,922 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 538 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Seacoast Banking Co. of Florida by 14.2% during the 1st quarter. AdvisorNet Financial Inc now owns 5,350 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 665 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Seacoast Banking Co. of Florida by 5.5% during the 4th quarter. Victory Capital Management Inc. now owns 15,865 shares of the financial services provider’s stock valued at $561,000 after acquiring an additional 826 shares in the last quarter. Institutional investors and hedge funds own 79.87% of the company’s stock.
Seacoast Banking Co. of Florida Price Performance
SBCF opened at $33.44 on Thursday. The company has a 50-day moving average of $34.06 and a 200-day moving average of $34.35. The company has a market capitalization of $2.05 billion, a P/E ratio of 17.79 and a beta of 1.12. Seacoast Banking Co. of Florida has a 1-year low of $29.28 and a 1-year high of $39.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79.
Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) last released its earnings results on Thursday, July 28th. The financial services provider reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Seacoast Banking Co. of Florida had a net margin of 29.70% and a return on equity of 9.80%. During the same period in the prior year, the company posted $0.59 earnings per share. Equities analysts expect that Seacoast Banking Co. of Florida will post 1.89 EPS for the current fiscal year.
Seacoast Banking Co. of Florida Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Wednesday, September 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 36.17%.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. B. Riley dropped their price target on shares of Seacoast Banking Co. of Florida from $36.00 to $34.00 in a research note on Monday, July 11th. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Truist Financial dropped their price target on shares of Seacoast Banking Co. of Florida from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.33.
Insider Activity at Seacoast Banking Co. of Florida
In related news, Director Dennis S. Hudson III sold 2,542 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $35.48, for a total transaction of $90,190.16. Following the completion of the sale, the director now owns 169,698 shares of the company’s stock, valued at approximately $6,020,885.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $36.00, for a total transaction of $288,000.00. Following the completion of the sale, the director now owns 169,698 shares of the company’s stock, valued at approximately $6,109,128. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dennis S. Hudson III sold 2,542 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $35.48, for a total transaction of $90,190.16. Following the transaction, the director now directly owns 169,698 shares of the company’s stock, valued at $6,020,885.04. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
About Seacoast Banking Co. of Florida
Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; and brokerage and annuity services.
Further Reading
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