Ceredex Value Advisors LLC Sells 100,550 Shares of Seacoast Banking Corporation of Florida $SBCF

Ceredex Value Advisors LLC trimmed its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 17.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,650 shares of the financial services provider’s stock after selling 100,550 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Seacoast Banking Corporation of Florida were worth $14,322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Seacoast Banking Corporation of Florida by 41.5% during the 1st quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider’s stock worth $2,777,000 after acquiring an additional 31,636 shares during the period. AQR Capital Management LLC increased its stake in Seacoast Banking Corporation of Florida by 123.4% in the first quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock valued at $2,133,000 after acquiring an additional 45,792 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Seacoast Banking Corporation of Florida by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider’s stock valued at $1,293,000 after acquiring an additional 2,187 shares during the period. Jane Street Group LLC acquired a new position in Seacoast Banking Corporation of Florida in the first quarter worth about $4,817,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Seacoast Banking Corporation of Florida by 43.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 206,629 shares of the financial services provider’s stock valued at $5,707,000 after purchasing an additional 62,650 shares during the period. 81.77% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Joseph B. Shearouse III acquired 4,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of $33.19 per share, for a total transaction of $132,760.00. Following the transaction, the director owned 35,500 shares of the company’s stock, valued at approximately $1,178,245. This represents a 12.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Maryann Goebel sold 3,419 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $34.23, for a total value of $117,032.37. Following the sale, the director owned 6,000 shares of the company’s stock, valued at approximately $205,380. The trade was a 36.30% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,752 shares of company stock worth $976,846. 1.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Finally, Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.90.

Seacoast Banking Corporation of Florida Stock Performance

Seacoast Banking Corporation of Florida stock opened at $30.65 on Tuesday. The stock has a 50-day simple moving average of $32.99 and a 200 day simple moving average of $31.75. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 19.16 and a beta of 0.92. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The company had revenue of $204.80 million during the quarter, compared to analyst estimates of $201.25 million. During the same quarter in the previous year, the business posted $0.48 EPS. The company’s revenue was up 53.0% compared to the same quarter last year. On average, research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 47.50%.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.