Endeavour Capital Advisors Inc. Sells 73,983 Shares of Seacoast Banking Corporation of Florida $SBCF

Endeavour Capital Advisors Inc. cut its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 86.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,688 shares of the financial services provider’s stock after selling 73,983 shares during the period. Endeavour Capital Advisors Inc.’s holdings in Seacoast Banking Corporation of Florida were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of SBCF. Jones Financial Companies Lllp boosted its stake in Seacoast Banking Corporation of Florida by 69.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 352 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of 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 acquiring an additional 478 shares in the last quarter. Caldwell Trust Co bought a new position in Seacoast Banking Corporation of Florida during the 2nd quarter worth $51,000. Assetmark Inc. increased its holdings in Seacoast Banking Corporation of Florida by 24.0% in the 2nd quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock valued at $54,000 after buying an additional 375 shares during the period. Finally, First Horizon Advisors Inc. raised its position in Seacoast Banking Corporation of Florida by 28.1% during the second quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 452 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In related news, Director Dennis J. Arczynski sold 3,419 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $34.21, for a total transaction of $116,963.99. Following the transaction, the director owned 1,000 shares of the company’s stock, valued at $34,210. The trade was a 77.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jacqueline Lynette Bradley sold 2,279 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $33.54, for a total value of $76,437.66. Following the transaction, the director directly owned 7,000 shares of the company’s stock, valued at $234,780. The trade was a 24.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,117 shares of company stock worth $310,434 over the last ninety days. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SBCF. Piper Sandler reissued a “neutral” rating and set a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Keefe, Bruyette & Woods boosted their target price on shares of Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.90.

Seacoast Banking Corporation of Florida Price Performance

Shares of SBCF stock opened at $33.62 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s 50-day simple moving average is $33.08 and its 200-day simple moving average is $31.42. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 21.01 and a beta of 0.93. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $204.80 million during the quarter, compared to analyst estimates of $201.25 million. Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The business’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. As a group, equities analysts forecast 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 47.50%.

Seacoast Banking Corporation of Florida Company Profile

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.