Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC lessened its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,242,206 shares of the financial services provider's stock after selling 82,860 shares during the quarter. GW&K Investment Management LLC owned 1.46% of Seacoast Banking Co. of Florida worth $35,353,000 at the end of the most recent reporting period.

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

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF stock traded up $0.02 during trading hours on Tuesday, hitting $24.07. 296,699 shares of the company's stock were exchanged, compared to its average volume of 404,614. Seacoast Banking Co. of Florida has a fifty-two week low of $19.04 and a fifty-two week high of $29.98. The firm has a market cap of $2.04 billion, a P/E ratio of 17.11 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $23.92 and a two-hundred day moving average of $24.84.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.03). Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. The company had revenue of $125.58 million for the quarter, compared to analyst estimates of $127.95 million. Sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.41 EPS for the current 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 paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, June 14th. Seacoast Banking Co. of Florida's dividend payout ratio is presently 51.43%.

Wall Street Analysts Forecast Growth

SBCF has been the topic of several analyst reports. Raymond James increased 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 report on Tuesday, January 30th. Truist Financial dropped their target price on 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 decreased their price target 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. Finally, Keefe, Bruyette & Woods dropped their price objective 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 note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida has an average rating of "Hold" and an average price target of $26.10.

Insider Buying and Selling

In related news, EVP James C. Stallings III sold 3,855 shares of the business's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.44, for a total transaction 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 $96,806.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by insiders.

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.