Seacoast Banking Corporation of Florida $SBCF Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 88.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 363,154 shares of the financial services provider's stock after buying an additional 170,421 shares during the period. Sei Investments Co. owned approximately 0.37% of Seacoast Banking Corporation of Florida worth $11,000,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada grew its stake in Seacoast Banking Corporation of Florida by 41.5% during the first quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider's stock worth $2,777,000 after buying an additional 31,636 shares during the period. AQR Capital Management LLC boosted its position in Seacoast Banking Corporation of Florida by 123.4% during the 1st quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider's stock worth $2,133,000 after purchasing an additional 45,792 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Seacoast Banking Corporation of Florida by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider's stock worth $1,293,000 after buying an additional 2,187 shares during the period. Jane Street Group LLC purchased a new position in Seacoast Banking Corporation of Florida in the 1st quarter worth approximately $4,817,000. Finally, Cetera Investment Advisers boosted its holdings in Seacoast Banking Corporation of Florida by 4.2% in the 2nd quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider's stock worth $351,000 after acquiring an additional 513 shares during the period. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Up 0.5%

SBCF stock opened at $34.74 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.78 and a quick ratio of 0.78. Seacoast Banking Corporation of Florida has a 1-year low of $27.22 and a 1-year high of $35.55. The firm has a fifty day moving average price of $32.15 and a two-hundred day moving average price of $31.97. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 22.13 and a beta of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $209.99 million for the quarter, compared to analyst estimates of $209.84 million. Seacoast Banking Corporation of Florida had a net margin of 15.11% and a return on equity of 8.68%. Research analysts predict that Seacoast Banking Corporation of Florida will post 2.53 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is 48.41%.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, CEO Charles M. Shaffer sold 10,367 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $30.88, for a total value of $320,132.96. Following the sale, the chief executive officer owned 174,113 shares in the company, valued at approximately $5,376,609.44. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis S. Hudson III sold 4,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $34.00, for a total value of $136,000.00. Following the completion of the transaction, the director directly owned 216,854 shares of the company's stock, valued at approximately $7,373,036. The trade was a 1.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 29,919 shares of company stock worth $942,733. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Seacoast Banking Corporation of Florida from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, June 30th. Piper Sandler upped their target price on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the company a "neutral" rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.50.

Seacoast Banking Corporation of Florida Company Profile

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.

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