ZWJ Investment Counsel Inc. Takes $203,000 Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

ZWJ Investment Counsel Inc. purchased a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,367 shares of the financial services provider’s stock, valued at approximately $203,000.

Other large investors have also modified their holdings of the company. Ceredex Value Advisors LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 24.2% during the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock valued at $12,551,000 after buying an additional 91,900 shares during the period. BNP Paribas Financial Markets lifted its stake 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. Curi RMB Capital LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 5.0% during 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 buying an additional 26,121 shares during the period. Jane Street Group LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 35.0% during 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 buying an additional 27,403 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 849,811 shares of the financial services provider’s stock valued at $22,647,000 after buying an additional 56,897 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SBCF. Stephens upped their price objective on shares of 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. Truist Financial cut 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 research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $28.70.

Seacoast Banking Co. of Florida Price Performance

SBCF opened at $27.16 on Wednesday. The company has a fifty day simple moving average of $28.34 and a 200 day simple moving average of $27.35. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 19.68 and a beta of 1.09. Seacoast Banking Co. of Florida has a twelve month low of $21.90 and a twelve month high of $31.68. 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 for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. Equities research analysts expect that Seacoast Banking Co. of Florida will post 1.39 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.65%. The ex-dividend date was Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Insiders Place Their Bets

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at $3,832,403.52. This trade represents a 14.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.