World Investment Advisors LLC Invests $459,000 in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

World Investment Advisors LLC purchased a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,236 shares of the financial services provider’s stock, valued at approximately $459,000.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Seacoast Banking Co. of Florida by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock valued at $53,959,000 after acquiring an additional 23,396 shares during the last quarter. Barclays PLC increased its stake in Seacoast Banking Co. of Florida by 112.0% in the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider’s stock valued at $4,754,000 after acquiring an additional 94,242 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Seacoast Banking Co. of Florida in the third quarter valued at $232,000. Pier Capital LLC increased its stake in Seacoast Banking Co. of Florida by 0.3% in the third quarter. Pier Capital LLC now owns 369,959 shares of the financial services provider’s stock valued at $9,859,000 after acquiring an additional 1,120 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Seacoast Banking Co. of Florida by 35.0% in the third quarter. Jane Street Group LLC now owns 105,808 shares of the financial services provider’s stock valued at $2,820,000 after acquiring an additional 27,403 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Down 3.3 %

Shares of NASDAQ:SBCF opened at $28.22 on Wednesday. The stock’s 50-day moving average price is $28.57 and its 200-day moving average price is $26.60. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68. The stock has a market capitalization of $2.41 billion, a P/E ratio of 20.45 and a beta of 1.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $130.30 million for the quarter, compared to analysts’ expectations of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. On average, equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.55%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Analysts Set New Price Targets

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

Insider Transactions at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 126,232 shares in the company, 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 is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Seacoast Banking Co. of Florida 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.