Public Employees Retirement System of Ohio Sells 11,289 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Public Employees Retirement System of Ohio decreased its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 8.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,894 shares of the financial services provider’s stock after selling 11,289 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Seacoast Banking Co. of Florida were worth $3,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Ceredex Value Advisors LLC raised its stake in shares of Seacoast Banking Co. of Florida by 24.2% during the 3rd quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock valued at $12,551,000 after purchasing an additional 91,900 shares during the period. F M Investments LLC bought a new stake in shares of Seacoast Banking Co. of Florida during the second quarter valued at about $7,601,000. BNP Paribas Financial Markets increased its position in shares of Seacoast Banking Co. of Florida by 97.8% during the third quarter. BNP Paribas Financial Markets now owns 34,238 shares of the financial services provider’s stock valued at $912,000 after buying an additional 16,930 shares during the period. Pier Capital LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 16.5% in the second quarter. Pier Capital LLC now owns 368,839 shares of the financial services provider’s stock worth $8,719,000 after buying an additional 52,287 shares in the last quarter. Finally, Curi RMB Capital LLC boosted its position in shares of Seacoast Banking Co. of Florida by 5.0% in the third quarter. Curi RMB Capital LLC now owns 544,914 shares of the financial services provider’s stock valued at $14,522,000 after acquiring an additional 26,121 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Insider Buying and Selling

In other news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the sale, the chief executive officer now owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock opened at $29.17 on Tuesday. The firm’s fifty day moving average price is $28.57 and its 200-day moving average price is $26.60. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $2.49 billion, a P/E ratio of 21.14 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The company had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. During the same period last year, the firm posted $0.37 EPS. Seacoast Banking Co. of Florida’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.47%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Analysts Set New Price Targets

A number of analysts recently weighed in on SBCF shares. Stephens upped their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Truist Financial decreased their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.70.

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. 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.