Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,821 shares of the financial services provider’s stock after selling 1,100 shares during the quarter. New York State Teachers Retirement System’s holdings in Seacoast Banking Co. of Florida were worth $582,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after buying an additional 412 shares during the period. Innealta Capital LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter worth approximately $55,000. Algert Global LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the second quarter valued at approximately $202,000. Janney Montgomery Scott LLC raised its holdings in Seacoast Banking Co. of Florida by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 460 shares in the last quarter. Finally, Xcel Wealth Management LLC acquired a new stake in Seacoast Banking Co. of Florida in the third quarter worth approximately $223,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Trading Up 0.5 %

Shares of SBCF opened at $29.38 on Monday. 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 has a 1-year low of $21.18 and a 1-year high of $30.78. The stock has a market capitalization of $2.51 billion, a P/E ratio of 21.29 and a beta of 1.07. The business’s 50-day moving average price is $26.96 and its 200 day moving average price is $25.49.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results 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. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The business had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.45%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Ratings Changes

SBCF has been the topic of several research analyst reports. Stephens lifted their price target on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Truist Financial dropped 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 report on Monday, October 28th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.70.

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.