Mutual of America Capital Management LLC Buys 458 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Posted by MarketBeat News on Aug 2nd, 2022

Mutual of America Capital Management LLC boosted its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) by 5.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,430 shares of the financial services provider’s stock after buying an additional 458 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Seacoast Banking Co. of Florida were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBCF. Russell Investments Group Ltd. bought a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at about $299,000. Janney Montgomery Scott LLC purchased a new position in Seacoast Banking Co. of Florida during the 4th quarter valued at about $204,000. Allspring Global Investments Holdings LLC purchased a new position in Seacoast Banking Co. of Florida during the 4th quarter valued at about $555,000. Yousif Capital Management LLC purchased a new position in Seacoast Banking Co. of Florida during the 4th quarter valued at about $1,871,000. Finally, Qube Research & Technologies Ltd purchased a new position in Seacoast Banking Co. of Florida during the 4th quarter valued at about $1,213,000. Institutional investors own 79.87% of the company’s stock.

Wall Street Analysts Forecast Growth

SBCF has been the topic of a number of research reports. B. Riley cut their target price on shares of Seacoast Banking Co. of Florida from $36.00 to $34.00 in a research report on Monday, July 11th. Truist Financial cut their target price 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 report on Wednesday, July 6th. Finally, StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $37.33.

Seacoast Banking Co. of Florida Stock Up 2.2 %

Shares of Seacoast Banking Co. of Florida stock opened at $36.56 on Tuesday. The firm’s 50 day moving average price is $33.51 and its 200-day moving average price is $34.55. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. Seacoast Banking Co. of Florida has a 52-week low of $29.28 and a 52-week high of $39.31. The company has a market cap of $2.24 billion, a P/E ratio of 19.45 and a beta of 1.12.

Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 EPS. On average, sell-side analysts predict that Seacoast Banking Co. of Florida will post 2.11 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 Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, September 14th. Seacoast Banking Co. of Florida’s payout ratio is currently 36.17%.

Seacoast Banking Co. of Florida Profile

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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.