Fifth Third Bancorp Purchases 71,556 Shares of Seacoast Banking Corporation of Florida $SBCF

Fifth Third Bancorp increased its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 2,562.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,348 shares of the financial services provider's stock after buying an additional 71,556 shares during the quarter. Fifth Third Bancorp owned 0.08% of Seacoast Banking Corporation of Florida worth $2,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Seacoast Banking Corporation of Florida in the 4th quarter valued at approximately $26,000. Salomon & Ludwin LLC raised its holdings in Seacoast Banking Corporation of Florida by 59.3% during the 4th quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider's stock worth $31,000 after buying an additional 356 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in Seacoast Banking Corporation of Florida during the 3rd quarter worth approximately $33,000. Advisory Services Network LLC bought a new position in Seacoast Banking Corporation of Florida in the third quarter valued at approximately $45,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Seacoast Banking Corporation of Florida in the fourth quarter valued at approximately $50,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Up 0.4%

SBCF stock opened at $33.65 on Wednesday. Seacoast Banking Corporation of Florida has a twelve month low of $27.22 and a twelve month high of $35.55. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 22.14 and a beta of 0.85. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $31.58 and a two-hundred day moving average price of $31.89.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.04. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. The business had revenue of $205.10 million for the quarter, compared to the consensus estimate of $205.51 million. During the same period in the previous year, the company earned $0.38 earnings per share. The firm's revenue for the quarter was up 45.8% on a year-over-year basis. Analysts anticipate that Seacoast Banking Corporation of Florida will post 2.51 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 15th. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is 50.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, June 30th. Piper Sandler upped their price objective on Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the stock a "neutral" rating in a research report on Monday, June 22nd. Finally, Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $35.00.

Insider Transactions at Seacoast Banking Corporation of Florida

In other news, EVP James C. Stallings III sold 7,552 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $31.16, for a total transaction of $235,320.32. Following the transaction, the executive vice president directly owned 7,247 shares in the company, valued at $225,816.52. The trade was a 51.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles M. Shaffer sold 10,367 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $30.88, for a total value of $320,132.96. Following the transaction, the chief executive officer owned 174,113 shares of the company's stock, valued at $5,376,609.44. The trade was a 5.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,919 shares of company stock worth $942,733 in the last ninety days. Insiders own 1.50% of the company's stock.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.