JPMorgan Chase & Co. Has $6.42 Million Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

JPMorgan Chase & Co. lowered its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,991 shares of the financial services provider's stock after selling 20,434 shares during the period. JPMorgan Chase & Co. owned approximately 0.28% of Seacoast Banking Co. of Florida worth $6,422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SBCF. GAMMA Investing LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider's stock worth $26,000 after purchasing an additional 412 shares in the last quarter. KBC Group NV grew its stake in Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 768 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Seacoast Banking Co. of Florida during the 3rd quarter valued at approximately $121,000. FMR LLC grew its position in shares of Seacoast Banking Co. of Florida by 57.3% during the third quarter. FMR LLC now owns 5,382 shares of the financial services provider's stock worth $143,000 after buying an additional 1,960 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Seacoast Banking Co. of Florida in the third quarter valued at $178,000. Institutional investors and hedge funds own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Trading Down 0.5 %

Shares of NASDAQ:SBCF traded down $0.14 during midday trading on Thursday, reaching $26.75. The company had a trading volume of 291,973 shares, compared to its average volume of 356,377. The company has a fifty day simple moving average of $28.55 and a two-hundred day simple moving average of $27.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 19.38 and a beta of 1.09. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The firm had revenue of $130.30 million during the quarter, compared to the consensus estimate of $129.20 million. During the same period in the prior year, the business earned $0.37 EPS. The business's revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts predict that Seacoast Banking Co. of Florida will post 1.39 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.69%. Seacoast Banking Co. of Florida's dividend payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SBCF shares. Stephens upped their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Monday, October 28th. Truist Financial lowered their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $28.70.

Insider Activity at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the sale, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. This represents a 14.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.50% of the company's stock.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.