Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 91.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,572 shares of the financial services provider’s stock after selling 175,257 shares during the quarter. Raymond James & Associates’ holdings in Seacoast Banking Co. of Florida were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Seacoast Banking Co. of Florida by 31.7% during the third quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after purchasing an additional 1,106,724 shares during the last quarter. abrdn plc lifted its position in shares of Seacoast Banking Co. of Florida by 40.7% during the 3rd quarter. abrdn plc now owns 1,212,652 shares of the financial services provider’s stock valued at $26,630,000 after acquiring an additional 350,726 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Seacoast Banking Co. of Florida by 1.2% during the 3rd quarter. Northern Trust Corp now owns 877,742 shares of the financial services provider’s stock worth $19,275,000 after acquiring an additional 10,205 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Seacoast Banking Co. of Florida by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,829 shares of the financial services provider’s stock worth $14,885,000 after acquiring an additional 39,183 shares during the last quarter. Finally, Heartland Advisors Inc. raised its position in shares of Seacoast Banking Co. of Florida by 4.4% during the third quarter. Heartland Advisors Inc. now owns 599,417 shares of the financial services provider’s stock worth $14,531,000 after purchasing an additional 25,304 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Trading Down 1.1 %

Shares of NASDAQ SBCF opened at $23.38 on Friday. The business has a 50-day moving average price of $24.05 and a two-hundred day moving average price of $24.39. Seacoast Banking Co. of Florida has a one year low of $17.93 and a one year high of $29.98. The firm has a market capitalization of $1.99 billion, a PE ratio of 18.81 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 5.04% and a net margin of 13.54%. The business had revenue of $128.16 million for the quarter, compared to analyst estimates of $135.33 million. As a group, analysts predict that Seacoast Banking Co. of Florida will post 1.47 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 Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.08%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 58.06%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SBCF. Truist Financial dropped their price target on Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Raymond James lifted their target price on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.63.

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. 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.