Trust Point Inc. Lowers Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Trust Point Inc. reduced its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 46.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,303 shares of the financial services provider's stock after selling 10,600 shares during the quarter. Trust Point Inc.'s holdings in Seacoast Banking Co. of Florida were worth $339,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in Seacoast Banking Co. of Florida by 7.9% during the third quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider's stock valued at $111,144,000 after purchasing an additional 305,843 shares during the last quarter. Tributary Capital Management LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 44.4% during the 4th quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider's stock worth $18,028,000 after acquiring an additional 201,494 shares in the last quarter. abrdn plc grew its holdings in shares of 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 last quarter. Barclays PLC boosted its position in shares of Seacoast Banking Co. of Florida by 112.0% in the 3rd quarter. Barclays PLC now owns 178,355 shares of the financial services provider's stock valued at $4,754,000 after purchasing an additional 94,242 shares during the period. Finally, Ceredex Value Advisors LLC increased its stake in Seacoast Banking Co. of Florida by 24.2% in the 3rd quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider's stock worth $12,551,000 after purchasing an additional 91,900 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ:SBCF traded down $0.22 on Friday, reaching $29.09. 357,610 shares of the company's stock were exchanged, compared to its average volume of 359,596. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 20.34 and a beta of 1.08. Seacoast Banking Co. of Florida has a twelve month low of $21.90 and a twelve month high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $27.85 and a 200-day moving average of $27.51.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. On average, research analysts predict that Seacoast Banking Co. of Florida will post 1.67 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida's payout ratio is presently 50.35%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SBCF shares. Stephens increased their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, October 28th. Raymond James reaffirmed an "outperform" rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Truist Financial cut their price objective on 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. Finally, StockNews.com raised Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research report on Wednesday, January 29th. Four 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 data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $29.40.

Insider Buying and Selling

In other news, CEO Charles M. Shaffer sold 21,255 shares of the firm'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 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. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.