Innealta Capital LLC Makes New $55,000 Investment in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Innealta Capital LLC purchased a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,314 shares of the financial services provider’s stock, valued at approximately $55,000.

Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its position in Seacoast Banking Co. of Florida by 63.8% in the 1st quarter. Sei Investments Co. now owns 205,996 shares of the financial services provider’s stock worth $5,230,000 after purchasing an additional 80,220 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Seacoast Banking Co. of Florida in the first quarter valued at $1,325,000. William Blair Investment Management LLC raised its position in shares of Seacoast Banking Co. of Florida by 24.0% in the first quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock worth $29,710,000 after acquiring an additional 226,132 shares during the period. Russell Investments Group Ltd. raised its position in Seacoast Banking Co. of Florida by 70.9% during the fourth quarter. Russell Investments Group Ltd. now owns 375,529 shares of the financial services provider’s stock worth $10,688,000 after acquiring an additional 155,776 shares during the period. Finally, Schroder Investment Management Group lifted its stake in Seacoast Banking Co. of Florida by 10.2% in the 4th quarter. Schroder Investment Management Group now owns 551,327 shares of the financial services provider’s stock valued at $15,691,000 after buying an additional 50,902 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In related news, Director Dennis S. Hudson III sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the sale, the director now owns 234,312 shares of the company’s stock, valued at approximately $6,326,424. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SBCF shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Hovde Group lowered Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $29.00 to $31.00 in a research report on Monday, July 29th. Finally, Truist Financial raised their price target on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.50.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ:SBCF opened at $27.36 on Friday. The business’s fifty day moving average price is $25.82 and its two-hundred day moving average price is $24.48. Seacoast Banking Co. of Florida has a one year low of $19.04 and a one year high of $29.98. The stock has a market cap of $2.32 billion, a PE ratio of 19.54 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The company had revenue of $201.99 million during the quarter, compared to analyst estimates of $126.00 million. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, analysts forecast that Seacoast Banking Co. of Florida will post 1.44 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, September 13th. Seacoast Banking Co. of Florida’s payout ratio is currently 51.43%.

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.