Vanguard Group Inc. Has $222.73 Million Stake in Seacoast Banking Corporation of Florida $SBCF

Vanguard Group Inc. increased its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 11.1% during the 4th quarter, HoldingsChannel reports. The fund owned 7,088,869 shares of the financial services provider’s stock after purchasing an additional 705,554 shares during the quarter. Vanguard Group Inc. owned 0.07% of Seacoast Banking Corporation of Florida worth $222,732,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SBCF. Jones Financial Companies Lllp lifted its holdings in Seacoast Banking Corporation of Florida by 69.7% in the third quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after buying an additional 352 shares during the period. Salomon & Ludwin LLC lifted its holdings in Seacoast Banking Corporation of Florida by 59.3% in the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock valued at $31,000 after buying an additional 356 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in Seacoast Banking Corporation of Florida in the third quarter valued at approximately $33,000. Advisory Services Network LLC acquired a new position in Seacoast Banking Corporation of Florida in the third quarter valued at approximately $45,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Seacoast Banking Corporation of Florida by 41.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock valued at $50,000 after buying an additional 478 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Insider Activity at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, Director Joseph B. Shearouse III purchased 4,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were bought at an average price of $33.19 per share, with a total value of $132,760.00. Following the completion of the transaction, the director directly owned 35,500 shares in the company, valued at $1,178,245. This trade represents a 12.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph M. Forlenza sold 12,635 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $32.90, for a total value of $415,691.50. Following the sale, the executive vice president directly owned 42,392 shares in the company, valued at approximately $1,394,696.80. This represents a 22.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 38,554 shares of company stock valued at $1,221,865 over the last 90 days. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Wall Street Zen lowered shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a report on Saturday. Keefe, Bruyette & Woods increased their target price 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. Finally, Piper Sandler cut their target price on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.13.

Seacoast Banking Corporation of Florida Trading Up 0.2%

SBCF opened at $31.09 on Friday. The firm’s fifty day moving average is $31.08 and its two-hundred day moving average is $31.81. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $3.02 billion, a PE ratio of 20.45 and a beta of 0.88. Seacoast Banking Corporation of Florida has a twelve month low of $23.48 and a twelve month high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $205.07 million for the quarter, compared to analyst estimates of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The business’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 50.00%.

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.