Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC cut its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 16.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 197,324 shares of the financial services provider’s stock after selling 38,351 shares during the period. Great Lakes Advisors LLC owned approximately 0.23% of Seacoast Banking Co. of Florida worth $4,361,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SBCF. Russell Investments Group Ltd. lifted its stake in Seacoast Banking Co. of Florida by 1.5% during the second quarter. Russell Investments Group Ltd. now owns 58,131 shares of the financial services provider’s stock valued at $1,285,000 after buying an additional 859 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 6.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 638,646 shares of the financial services provider’s stock valued at $14,114,000 after acquiring an additional 39,855 shares in the last quarter. Citigroup Inc. boosted its stake in Seacoast Banking Co. of Florida by 270.4% in the 2nd quarter. Citigroup Inc. now owns 147,559 shares of the financial services provider’s stock worth $3,261,000 after purchasing an additional 107,720 shares during the period. Dimensional Fund Advisors LP grew its position in Seacoast Banking Co. of Florida by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,183,171 shares of the financial services provider’s stock worth $48,250,000 after purchasing an additional 108,738 shares in the last quarter. Finally, Swiss National Bank raised its stake in Seacoast Banking Co. of Florida by 15.7% during the 2nd quarter. Swiss National Bank now owns 184,200 shares of the financial services provider’s stock valued at $4,071,000 after purchasing an additional 25,000 shares during the period. 81.11% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF opened at $23.61 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $2.01 billion, a PE ratio of 19.20 and a beta of 1.10. The firm’s 50 day moving average price is $21.65 and its 200 day moving average price is $22.35. Seacoast Banking Co. of Florida has a twelve month low of $17.93 and a twelve month high of $34.96.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Seacoast Banking Co. of Florida had a net margin of 13.69% and a return on equity of 5.07%. The firm had revenue of $137.10 million during the quarter, compared to analysts’ expectations of $139.13 million. As a group, research analysts expect 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 announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.18 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.72 annualized dividend and a yield of 3.05%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 58.54%.

Analyst Ratings Changes

Several brokerages have recently commented on SBCF. Stephens assumed coverage on Seacoast Banking Co. of Florida in a research report on Tuesday, September 12th. They issued an “equal weight” rating and a $23.00 target price for the company. Truist Financial dropped their target price on Seacoast Banking Co. of Florida from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, September 27th. StockNews.com upgraded shares of Seacoast Banking Co. of Florida to a “sell” rating in a report on Monday, October 30th. TheStreet lowered shares of Seacoast Banking Co. of Florida from a “b-” rating to a “c+” rating in a research note on Monday, October 30th. Finally, Raymond James decreased their target price on shares of Seacoast Banking Co. of Florida from $27.00 to $23.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.80.

Seacoast Banking Co. of Florida Company 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. It offers commercial and retail banking, wealth management, mortgage, and insurance services through online and mobile banking solutions; and brokerage and annuity services.