William Blair Investment Management LLC Buys 2,554 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

William Blair Investment Management LLC raised its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,018,439 shares of the financial services provider’s stock after acquiring an additional 2,554 shares during the period. William Blair Investment Management LLC owned about 1.20% of Seacoast Banking Co. of Florida worth $24,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Panagora Asset Management Inc. grew its position in Seacoast Banking Co. of Florida by 922.1% in the first quarter. Panagora Asset Management Inc. now owns 213,412 shares of the financial services provider’s stock valued at $5,058,000 after acquiring an additional 192,533 shares during the last quarter. ProShare Advisors LLC grew its position in Seacoast Banking Co. of Florida by 9.3% in the first quarter. ProShare Advisors LLC now owns 10,776 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 915 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Seacoast Banking Co. of Florida by 17.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 598,791 shares of the financial services provider’s stock valued at $14,191,000 after acquiring an additional 88,373 shares during the last quarter. Profund Advisors LLC bought a new position in Seacoast Banking Co. of Florida in the first quarter valued at about $230,000. Finally, Noble Family Wealth LLC bought a new position in Seacoast Banking Co. of Florida in the first quarter valued at about $680,000. Institutional investors own 81.11% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF stock opened at $24.25 on Friday. The business’s 50-day moving average price is $23.61 and its 200-day moving average price is $23.80. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 18.23 and a beta of 1.11. Seacoast Banking Co. of Florida has a 12 month low of $17.93 and a 12 month high of $34.96.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). Seacoast Banking Co. of Florida had a net margin of 15.31% and a return on equity of 5.50%. The company had revenue of $148.54 million during the quarter, compared to the consensus estimate of $153.40 million. Equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.42 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, September 14th. Seacoast Banking Co. of Florida’s payout ratio is presently 54.14%.

Insider Activity at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, EVP James C. Stallings III sold 2,990 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $23.78, for a total transaction of $71,102.20. Following the transaction, the executive vice president now directly owns 3,703 shares in the company, valued at approximately $88,057.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SBCF shares. Raymond James lifted their target price on Seacoast Banking Co. of Florida from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. TheStreet raised Seacoast Banking Co. of Florida from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. Finally, Truist Financial lifted their price target on Seacoast Banking Co. of Florida from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.25.

Seacoast Banking Co. of Florida Company 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. It offers commercial and retail banking, wealth management, mortgage, and insurance services through online and mobile banking solutions; and brokerage and annuity services.