SG Americas Securities LLC trimmed its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 87.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,235 shares of the financial services provider's stock after selling 29,677 shares during the quarter. SG Americas Securities LLC's holdings in Seacoast Banking Co. of Florida were worth $113,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at $55,000. Algert Global LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at $202,000. Janney Montgomery Scott LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider's stock valued at $206,000 after purchasing an additional 460 shares during the last quarter. Dakota Wealth Management boosted its stake in shares of Seacoast Banking Co. of Florida by 16.7% in the 2nd quarter. Dakota Wealth Management now owns 10,515 shares of the financial services provider's stock valued at $249,000 after purchasing an additional 1,507 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at $263,000. 81.77% of the stock is owned by institutional investors.
Seacoast Banking Co. of Florida Stock Down 2.7 %
Shares of SBCF stock traded down $0.74 on Friday, hitting $26.33. The stock had a trading volume of 367,323 shares, compared to its average volume of 410,505. The business has a 50 day moving average of $26.75 and a 200 day moving average of $25.14. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 18.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. Seacoast Banking Co. of Florida has a 12-month low of $19.67 and a 12-month high of $29.98.
Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate 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 14.84% and a return on equity of 5.58%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. As a group, analysts expect that Seacoast Banking Co. of Florida will post 1.43 EPS for the current year.
Seacoast Banking Co. of Florida Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.73%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is presently 51.43%.
Analysts Set New Price Targets
Several brokerages recently issued reports on SBCF. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Hovde Group downgraded shares of Seacoast Banking Co. of Florida from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Finally, Truist Financial upped their price objective on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a "hold" rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Seacoast Banking Co. of Florida presently has a consensus rating of "Hold" and a consensus price target of $29.88.
Read Our Latest Report on SBCF
Seacoast Banking Co. of Florida Company Profile
(
Free Report)
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.
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