Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 1.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,024,351 shares of the financial services provider's stock after buying an additional 23,396 shares during the quarter. Geode Capital Management LLC owned approximately 2.37% of Seacoast Banking Co. of Florida worth $53,959,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SBCF. Barclays PLC boosted its stake in Seacoast Banking Co. of Florida by 112.0% in the 3rd quarter. Barclays PLC now owns 178,355 shares of the financial services provider's stock worth $4,754,000 after purchasing an additional 94,242 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Seacoast Banking Co. of Florida during the third quarter worth $232,000. Pier Capital LLC boosted its position in shares of Seacoast Banking Co. of Florida by 0.3% during the third quarter. Pier Capital LLC now owns 369,959 shares of the financial services provider's stock worth $9,859,000 after acquiring an additional 1,120 shares during the last quarter. Jane Street Group LLC grew its stake in Seacoast Banking Co. of Florida by 35.0% during the third quarter. Jane Street Group LLC now owns 105,808 shares of the financial services provider's stock valued at $2,820,000 after acquiring an additional 27,403 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Seacoast Banking Co. of Florida by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider's stock valued at $111,144,000 after acquiring an additional 305,843 shares during the last quarter. Institutional investors own 81.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial lowered their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, October 28th. Stephens increased their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $28.70.

Seacoast Banking Co. of Florida Stock Down 0.1 %

NASDAQ:SBCF traded down $0.02 during mid-day trading on Monday, reaching $27.58. The company's stock had a trading volume of 349,801 shares, compared to its average volume of 413,404. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68. The stock has a fifty day moving average of $28.69 and a 200-day moving average of $26.75. The firm has a market capitalization of $2.36 billion, a PE ratio of 19.99 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts' consensus estimates of $0.36. The company had revenue of $130.30 million during the quarter, compared to the consensus estimate of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. Seacoast Banking Co. of Florida's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida's payout ratio is currently 52.17%.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the sale, the chief executive officer now directly owns 126,232 shares in the company, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

About Seacoast Banking Co. of Florida

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.