Stifel Financial Corp Sells 40,344 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Stifel Financial Corp reduced its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 73.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,831 shares of the financial services provider's stock after selling 40,344 shares during the quarter. Stifel Financial Corp's holdings in Seacoast Banking Co. of Florida were worth $395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Westwood Holdings Group Inc. grew its position in Seacoast Banking Co. of Florida by 2.8% during 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 purchasing an additional 88,757 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 buying an additional 27,287 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,846,418 shares of the financial services provider's stock valued at $49,207,000 after acquiring an additional 13,567 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in shares of 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 purchasing an additional 76,001 shares during the period. Finally, abrdn plc raised its holdings in Seacoast Banking Co. of Florida by 10.9% in the 3rd quarter. abrdn plc now owns 1,122,478 shares of the financial services provider's stock worth $29,914,000 after acquiring an additional 110,582 shares during the period. Institutional investors and hedge funds own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ:SBCF traded down $0.51 during trading on Friday, hitting $27.26. 271,889 shares of the stock were exchanged, compared to its average volume of 410,750. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.75 and a beta of 1.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The company's fifty day simple moving average is $28.67 and its 200-day simple moving average is $26.83.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $130.30 million during the quarter, compared to analyst estimates 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 business's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share. Sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida's dividend payout ratio is currently 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 on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the sale, the chief executive officer now owns 126,232 shares in the company, 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 legal filing with the SEC, which is available through this link. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SBCF. Stephens increased their target price 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, October 28th. Truist Financial cut their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating for the company in a report on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target 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.