Great Lakes Advisors LLC Cuts Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Great Lakes Advisors LLC trimmed its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,849 shares of the financial services provider's stock after selling 63,590 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.20% of Seacoast Banking Co. of Florida worth $4,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in Seacoast Banking Co. of Florida during the 4th quarter worth about $25,000. Good Life Advisors LLC acquired a new stake in Seacoast Banking Co. of Florida during the fourth quarter worth approximately $205,000. Xcel Wealth Management LLC acquired a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $238,000. Envestnet Portfolio Solutions Inc. acquired a new position in Seacoast Banking Co. of Florida in the third quarter valued at approximately $242,000. Finally, Diversified Trust Co boosted its holdings in shares of Seacoast Banking Co. of Florida by 5.8% during the 4th quarter. Diversified Trust Co now owns 13,154 shares of the financial services provider's stock worth $374,000 after buying an additional 718 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, EVP James C. Stallings III sold 3,855 shares of the company's stock in a transaction on 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 owns 3,961 shares in the company, valued at approximately $96,806.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SBCF shares. Keefe, Bruyette & Woods dropped their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a "market perform" rating on the stock in a research report on Thursday, May 2nd. Truist Financial dropped their price objective on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a "hold" rating on the stock in a report on Monday, April 29th. Hovde Group reduced 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 research note on Monday, April 29th. Finally, Raymond James upped their price target on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an "outperform" rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $26.10.

Seacoast Banking Co. of Florida Stock Up 1.4 %

Shares of NASDAQ:SBCF traded up $0.34 during midday trading on Friday, hitting $24.41. 501,104 shares of the company's stock were exchanged, compared to its average volume of 416,923. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a 12 month low of $19.04 and a 12 month high of $29.98. The company has a market cap of $2.07 billion, a PE ratio of 17.44 and a beta of 1.17. The stock has a 50 day moving average price of $23.93 and a 200-day moving average price of $24.83.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.03). The company had revenue of $125.58 million for the quarter, compared to the consensus estimate of $127.95 million. Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. On average, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Friday, June 14th. Seacoast Banking Co. of Florida's payout ratio is currently 51.43%.

About Seacoast Banking Co. of Florida

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.