Jane Street Group LLC Raises Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Jane Street Group LLC grew its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 35.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,808 shares of the financial services provider's stock after purchasing an additional 27,403 shares during the period. Jane Street Group LLC owned approximately 0.12% of Seacoast Banking Co. of Florida worth $2,820,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State Street Corp lifted its position in Seacoast Banking Co. of Florida by 0.7% in the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider's stock valued at $112,978,000 after purchasing an additional 28,066 shares during the period. Wellington Management Group LLP lifted its holdings in shares of 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 buying an additional 305,843 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of 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 buying an additional 88,757 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Seacoast Banking Co. of Florida by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider's stock worth $70,949,000 after acquiring an additional 27,287 shares during the period. Finally, Segall Bryant & Hamill LLC raised its position in Seacoast Banking Co. of Florida by 0.7% in the third quarter. Segall Bryant & Hamill LLC now owns 1,846,418 shares of the financial services provider's stock worth $49,207,000 after acquiring an additional 13,567 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Monday, October 28th. Stephens upped their target price 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida has an average rating of "Hold" and a consensus price target of $28.70.

Seacoast Banking Co. of Florida Price Performance

Shares of Seacoast Banking Co. of Florida stock traded up $0.96 on Friday, hitting $27.60. The company's stock had a trading volume of 1,544,762 shares, compared to its average volume of 413,662. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average price of $28.68 and a 200-day moving average price of $26.72. Seacoast Banking Co. of Florida has a 52-week low of $21.90 and a 52-week high of $31.68. The company has a market capitalization of $2.36 billion, a P/E ratio of 20.00 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The business had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. During the same period in the prior year, the business earned $0.37 earnings per share. The company's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts expect that Seacoast Banking Co. of Florida will post 1.41 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. Stockholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.61%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is 52.17%.

Insider Transactions at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares of the company's stock, valued at $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.50% of the company's stock.

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.