Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Purchased by Royce & Associates LP

Royce & Associates LP grew its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,026,578 shares of the financial services provider's stock after acquiring an additional 67,567 shares during the quarter. Royce & Associates LP owned about 1.21% of Seacoast Banking Co. of Florida worth $27,358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBCF. GAMMA Investing LLC increased its stake in Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 412 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Seacoast Banking Co. of Florida by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 74,241 shares of the financial services provider's stock worth $1,755,000 after acquiring an additional 438 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Seacoast Banking Co. of Florida by 6.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider's stock worth $206,000 after acquiring an additional 460 shares during the period. Louisiana State Employees Retirement System lifted its position in Seacoast Banking Co. of Florida by 1.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 42,300 shares of the financial services provider's stock worth $1,000,000 after acquiring an additional 500 shares during the period. Finally, Trust Point Inc. grew its stake in Seacoast Banking Co. of Florida by 2.8% during the 3rd quarter. Trust Point Inc. now owns 22,903 shares of the financial services provider's stock valued at $610,000 after purchasing an additional 617 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SBCF. Hovde Group downgraded Seacoast Banking Co. of Florida from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Truist Financial dropped their price objective on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Monday, October 28th. Stephens increased their price objective 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 note on Monday, October 28th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $28.70.

Insiders Place Their Bets

In related news, CEO Charles M. Shaffer sold 21,255 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the transaction, the chief executive officer now directly owns 126,232 shares of the company's stock, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock traded down $0.12 during mid-day trading on Friday, hitting $29.50. The company had a trading volume of 343,478 shares, compared to its average volume of 415,404. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 21.38 and a beta of 1.07. The company's fifty day moving average is $27.23 and its 200-day moving average is $25.70. Seacoast Banking Co. of Florida has a 12-month low of $21.23 and a 12-month high of $30.78.

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. The company had revenue of $130.30 million for the quarter, compared to analyst estimates 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 revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. Equities research analysts predict that Seacoast Banking Co. of Florida will post 1.42 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm 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. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.44%. Seacoast Banking Co. of Florida's payout ratio is 52.17%.

Seacoast Banking Co. of Florida 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.