abrdn plc Sells 122,430 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

abrdn plc trimmed its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,090,222 shares of the financial services provider's stock after selling 122,430 shares during the quarter. abrdn plc owned about 1.28% of Seacoast Banking Co. of Florida worth $31,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Seacoast Banking Co. of Florida by 31.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider's stock valued at $100,966,000 after purchasing an additional 1,106,724 shares in the last quarter. Northern Trust Corp lifted its position in shares of Seacoast Banking Co. of Florida by 1.2% during the 3rd quarter. Northern Trust Corp now owns 877,742 shares of the financial services provider's stock valued at $19,275,000 after acquiring an additional 10,205 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,829 shares of the financial services provider's stock valued at $14,885,000 after acquiring an additional 39,183 shares during the last quarter. Heartland Advisors Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 4.4% during the 3rd quarter. Heartland Advisors Inc. now owns 599,417 shares of the financial services provider's stock valued at $14,531,000 after acquiring an additional 25,304 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Seacoast Banking Co. of Florida by 20.0% during the 3rd quarter. Schroder Investment Management Group now owns 500,425 shares of the financial services provider's stock valued at $10,989,000 after acquiring an additional 83,377 shares during the last quarter. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ:SBCF traded up $0.83 during midday trading on Tuesday, hitting $24.01. The company's stock had a trading volume of 620,414 shares, compared to its average volume of 413,396. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 19.36 and a beta of 1.16. The stock's 50 day simple moving average is $24.10 and its 200 day simple moving average is $24.38. Seacoast Banking Co. of Florida has a fifty-two week low of $17.93 and a fifty-two week high of $29.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $128.16 million during the quarter, compared to the consensus estimate of $135.33 million. Seacoast Banking Co. of Florida had a net margin of 13.54% and a return on equity of 5.04%. As a group, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.47 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio is 58.06%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial cut their price objective on Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a "hold" rating for the company in a research report on Monday, April 1st. Raymond James increased their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an "outperform" rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $25.63.

Seacoast Banking Co. of Florida 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.