William Blair Investment Management LLC Has $37.21 Million Stake in Seacoast Banking Corporation of Florida $SBCF

William Blair Investment Management LLC reduced its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 5.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,222,755 shares of the financial services provider’s stock after selling 74,181 shares during the quarter. William Blair Investment Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $37,208,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its position in shares of Seacoast Banking Corporation of Florida by 69.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 352 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Seacoast Banking Corporation of Florida by 41.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 478 shares in the last quarter. Caldwell Trust Co bought a new stake in shares of Seacoast Banking Corporation of Florida in the 2nd quarter valued at approximately $51,000. Assetmark Inc. raised its holdings in shares of 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 worth $54,000 after buying an additional 375 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Seacoast Banking Corporation of Florida by 28.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider’s stock worth $57,000 after buying an additional 452 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Insider Buying and Selling

In other Seacoast Banking Corporation of Florida news, Director Maryann Goebel sold 3,419 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $34.23, for a total transaction of $117,032.37. Following the completion of the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dennis J. Arczynski sold 3,419 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $34.21, for a total transaction of $116,963.99. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $34,210. This trade represents a 77.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 21,752 shares of company stock worth $726,126. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Seacoast Banking Corporation of Florida Stock Performance

Seacoast Banking Corporation of Florida stock opened at $31.12 on Monday. The stock has a 50-day simple moving average of $33.13 and a 200 day simple moving average of $31.67. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 19.45 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 announced its earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The company had revenue of $204.80 million during the quarter, compared to the consensus estimate of $201.25 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The company’s revenue was up 53.0% on a year-over-year basis. 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 Dividend Announcement

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 given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 47.50%.

Seacoast Banking Corporation of Florida 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.