Russell Investments Group Ltd. Has $1.36 Million Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Russell Investments Group Ltd. boosted its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 223.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,272 shares of the financial services provider’s stock after purchasing an additional 39,583 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Seacoast Banking Co. of Florida worth $1,357,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in Seacoast Banking Co. of Florida by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,885,932 shares of the financial services provider’s stock worth $58,823,000 after purchasing an additional 97,816 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Seacoast Banking Co. of Florida by 4.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,587,864 shares of the financial services provider’s stock worth $49,525,000 after acquiring an additional 71,493 shares during the last quarter. Schroder Investment Management Group boosted its position in Seacoast Banking Co. of Florida by 5.2% during the 4th quarter. Schroder Investment Management Group now owns 527,921 shares of the financial services provider’s stock worth $16,466,000 after acquiring an additional 26,270 shares during the last quarter. Salzhauer Michael boosted its position in Seacoast Banking Co. of Florida by 32.0% during the 1st quarter. Salzhauer Michael now owns 249,307 shares of the financial services provider’s stock worth $5,909,000 after acquiring an additional 60,415 shares during the last quarter. Finally, Gruss & Co. LLC bought a new stake in Seacoast Banking Co. of Florida during the 4th quarter worth about $203,000. Institutional investors own 81.11% of the company’s stock.

Insider Activity

In other news, EVP James C. Stallings III sold 2,990 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $23.78, for a total value of $71,102.20. Following the transaction, the executive vice president now directly owns 3,703 shares of the company’s stock, valued at $88,057.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF opened at $23.42 on Wednesday. Seacoast Banking Co. of Florida has a one year low of $17.93 and a one year high of $34.96. The company has a market cap of $1.98 billion, a PE ratio of 17.61 and a beta of 1.11. The firm has a 50-day moving average of $23.49 and a 200-day moving average of $23.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Seacoast Banking Co. of Florida had a net margin of 15.31% and a return on equity of 5.50%. The business had revenue of $148.54 million during the quarter, compared to analyst estimates of $153.40 million. As a group, equities analysts forecast that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, September 14th. Seacoast Banking Co. of Florida’s payout ratio is presently 54.14%.

Analyst Ratings Changes

Several equities research analysts have commented on SBCF shares. Truist Financial boosted their price target on shares of Seacoast Banking Co. of Florida from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Raymond James boosted their price target on Seacoast Banking Co. of Florida from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. Finally, TheStreet raised Seacoast Banking Co. of Florida from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.25.

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. It offers commercial and retail banking, wealth management, mortgage, and insurance services through online and mobile banking solutions; and brokerage and annuity services.