Fisher Asset Management LLC lowered its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 529,294 shares of the financial services provider's stock after selling 76,877 shares during the quarter. Fisher Asset Management LLC owned about 0.62% of Seacoast Banking Co. of Florida worth $15,064,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $25,000. First Horizon Advisors Inc. increased its holdings in Seacoast Banking Co. of Florida by 39.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider's stock worth $40,000 after purchasing an additional 520 shares in the last quarter. Good Life Advisors LLC bought a new position in Seacoast Banking Co. of Florida during the 4th quarter worth about $205,000. Xcel Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida during the 4th quarter worth about $238,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Seacoast Banking Co. of Florida during the 3rd quarter worth about $242,000. Institutional investors and hedge funds own 81.77% of the company's stock.
Seacoast Banking Co. of Florida Stock Performance
NASDAQ:SBCF traded up $0.57 during mid-day trading on Monday, hitting $24.69. The stock had a trading volume of 494,574 shares, compared to its average volume of 415,487. Seacoast Banking Co. of Florida has a twelve month low of $18.52 and a twelve month high of $29.98. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 17.64 and a beta of 1.17. The company's 50 day simple moving average is $23.96 and its 200 day simple moving average is $24.56. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85.
Seacoast Banking Co. of Florida Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.18 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.72 annualized dividend and a yield of 2.92%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is currently 51.43%.
Insider Activity at Seacoast Banking Co. of Florida
In related news, EVP James C. Stallings III sold 3,855 shares of the firm's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.44, for a total value of $94,216.20. Following the completion of the sale, the executive vice president now directly owns 3,961 shares in the company, valued at approximately $96,806.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on SBCF. Hovde Group lowered their target price on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an "outperform" rating for the company in a report on Monday, April 29th. Keefe, Bruyette & Woods lowered their target price on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a "market perform" rating for the company in a report on Thursday. Truist Financial decreased their price objective on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a "hold" rating for the company in a report on Monday, April 29th. Finally, Raymond James raised their price objective 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 analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $26.10.
View Our Latest Stock Analysis on Seacoast Banking Co. of Florida
About Seacoast Banking Co. of Florida
(
Free Report)
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.
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