Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 12.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,866 shares of the financial services provider's stock after selling 22,084 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.17% of Seacoast Banking Co. of Florida worth $3,967,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SBCF. Westwood Holdings Group Inc. increased its position in shares of Seacoast Banking Co. of Florida by 2.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 3,210,657 shares of the financial services provider's stock worth $75,900,000 after purchasing an additional 88,757 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 27,287 shares in the last quarter. Segall Bryant & Hamill LLC increased its holdings 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 during the period. Deprince Race & Zollo Inc. raised its position in Seacoast Banking Co. of Florida by 4.7% in the 2nd 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 last quarter. Finally, abrdn plc boosted its stake in Seacoast Banking Co. of Florida by 10.9% during the 3rd quarter. abrdn plc now owns 1,122,478 shares of the financial services provider's stock worth $29,914,000 after purchasing an additional 110,582 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares in the company, valued at $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Truist Financial decreased their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating for the company in a research note on Monday, October 28th. Stephens upped their price target on 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 reiterated an "outperform" rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Seacoast Banking Co. of Florida presently has a consensus rating of "Hold" and an average price target of $28.70.

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF traded down $0.03 during trading hours on Friday, hitting $28.89. The company's stock had a trading volume of 361,412 shares, compared to its average volume of 408,583. 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 debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The business's 50-day moving average is $28.45 and its two-hundred day moving average is $26.46. The company has a market capitalization of $2.47 billion, a PE ratio of 21.09 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $130.30 million during the quarter, compared to analysts' expectations of $129.20 million. During the same quarter last year, the business earned $0.37 earnings per share. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.49%. Seacoast Banking Co. of Florida's payout ratio is 52.17%.

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.