BNP Paribas Financial Markets Purchases 16,930 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

BNP Paribas Financial Markets lifted its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 97.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,238 shares of the financial services provider’s stock after purchasing an additional 16,930 shares during the period. BNP Paribas Financial Markets’ holdings in Seacoast Banking Co. of Florida were worth $912,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Seacoast Banking Co. of Florida by 73.4% in the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 412 shares during the period. Innealta Capital LLC bought a new position in Seacoast Banking Co. of Florida in the 2nd quarter worth $55,000. KBC Group NV increased its stake in Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after buying an additional 768 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Seacoast Banking Co. of Florida during the third quarter valued at about $121,000. Finally, FMR LLC lifted its position in shares of Seacoast Banking Co. of Florida by 57.3% in the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 1,960 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Trading Up 0.5 %

SBCF stock opened at $29.65 on Thursday. The firm has a market cap of $2.53 billion, a PE ratio of 21.49 and a beta of 1.08. The firm has a fifty day moving average price of $28.39 and a 200 day moving average price of $26.44. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued 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 business had revenue of $130.30 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. Sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is currently 52.17%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBCF. 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. Stephens boosted their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Finally, Truist Financial cut their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company 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 company. According to MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and an average target price of $28.70.

Insiders Place Their Bets

In other news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by 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.