abrdn plc Buys 110,582 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

abrdn plc boosted its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,122,478 shares of the financial services provider's stock after acquiring an additional 110,582 shares during the period. abrdn plc owned 1.32% of Seacoast Banking Co. of Florida worth $29,914,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Seacoast Banking Co. of Florida by 4.2% in the first quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider's stock valued at $159,578,000 after acquiring an additional 254,887 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Seacoast Banking Co. of Florida by 2.8% in the second quarter. Westwood Holdings Group Inc. now owns 3,210,657 shares of the financial services provider's stock valued at $75,900,000 after acquiring an additional 88,757 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Seacoast Banking Co. of Florida by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider's stock valued at $70,949,000 after acquiring an additional 27,287 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Seacoast Banking Co. of Florida by 4.7% in the second quarter. Deprince Race & Zollo Inc. now owns 1,689,888 shares of the financial services provider's stock valued at $39,949,000 after acquiring an additional 76,001 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Seacoast Banking Co. of Florida by 24.0% in the first quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider's stock valued at $29,710,000 after acquiring an additional 226,132 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ:SBCF traded down $0.64 during trading on Thursday, reaching $26.70. The company's stock had a trading volume of 256,676 shares, compared to its average volume of 408,410. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 19.35 and a beta of 1.07. 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 50 day moving average of $26.82 and a 200-day moving average of $25.22. Seacoast Banking Co. of Florida has a 12 month low of $19.90 and a 12 month high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, hitting 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 return on equity of 5.44% and a net margin of 14.55%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 EPS. Research analysts expect that Seacoast Banking Co. of Florida will post 1.43 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.70%. Seacoast Banking Co. of Florida's payout ratio is 52.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods restated an "outperform" rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Hovde Group lowered Seacoast Banking Co. of Florida from an "outperform" rating to a "market perform" rating and increased their price target for the company from $29.00 to $31.00 in a research report on Monday, July 29th. 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. Finally, Truist Financial reduced 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Seacoast Banking Co. of Florida has an average rating of "Hold" and a consensus target price of $28.70.

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.