Ceredex Value Advisors LLC Has $12.55 Million Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Ceredex Value Advisors LLC grew its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 24.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 470,954 shares of the financial services provider's stock after acquiring an additional 91,900 shares during the quarter. Ceredex Value Advisors LLC owned 0.55% of Seacoast Banking Co. of Florida worth $12,551,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. abrdn plc grew its position in Seacoast Banking Co. of Florida by 10.9% during the third quarter. abrdn plc now owns 1,122,478 shares of the financial services provider's stock worth $29,914,000 after buying an additional 110,582 shares in the last quarter. Xcel Wealth Management LLC acquired a new stake in Seacoast Banking Co. of Florida during the third quarter worth $223,000. Wealth Effects LLC increased its holdings in Seacoast Banking Co. of Florida by 10.4% in the 3rd quarter. Wealth Effects LLC now owns 25,550 shares of the financial services provider's stock valued at $681,000 after buying an additional 2,400 shares during the period. Trust Point Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 2.8% in the 3rd quarter. Trust Point Inc. now owns 22,903 shares of the financial services provider's stock valued at $610,000 after buying an additional 617 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Seacoast Banking Co. of Florida during the 3rd quarter worth about $231,000. Institutional investors and hedge funds own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock traded up $0.11 on Friday, reaching $26.81. The company's stock had a trading volume of 226,322 shares, compared to its average volume of 342,674. The business's fifty day moving average price is $26.83 and its 200 day moving average price is $25.28. 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 company has a market cap of $2.28 billion, a price-to-earnings ratio of 19.43 and a beta of 1.07. Seacoast Banking Co. of Florida has a twelve month low of $20.75 and a twelve month high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $130.30 million for 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%. The firm's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. Equities analysts expect that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on SBCF. Stephens increased their price target on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Monday, October 28th. Hovde Group downgraded Seacoast Banking Co. of Florida from an "outperform" rating to a "market perform" rating and raised their target price for the stock from $29.00 to $31.00 in a research report on Monday, July 29th. Truist Financial lowered their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $28.70.

Seacoast Banking Co. of Florida Company Profile

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.