Deprince Race & Zollo Inc. Purchases 143,871 Shares of Seacoast Banking Corporation of Florida $SBCF

Deprince Race & Zollo Inc. boosted its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,148,243 shares of the financial services provider’s stock after acquiring an additional 143,871 shares during the period. Seacoast Banking Corporation of Florida accounts for 1.3% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 14th biggest position. Deprince Race & Zollo Inc. owned approximately 2.45% of Seacoast Banking Corporation of Florida worth $65,371,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caldwell Trust Co purchased a new position in Seacoast Banking Corporation of Florida during the 2nd quarter valued at about $51,000. Assetmark Inc. increased its stake in shares of Seacoast Banking Corporation of Florida by 24.0% during the second quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock valued at $54,000 after buying an additional 375 shares during the period. GAMMA Investing LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 21.9% during the second quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after buying an additional 366 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Seacoast Banking Corporation of Florida by 28.1% during the second quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 452 shares in the last quarter. Finally, Summer Road LLC purchased a new stake in Seacoast Banking Corporation of Florida in the second quarter worth $84,000. 81.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on SBCF shares. Raymond James Financial set a $33.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price target on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. Finally, Piper Sandler reiterated a “neutral” rating and set a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Seacoast Banking Corporation of Florida Trading Down 0.6%

NASDAQ:SBCF opened at $32.30 on Friday. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $33.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50-day simple moving average is $31.29 and its 200 day simple moving average is $29.94. The firm has a market capitalization of $3.16 billion, a P/E ratio of 19.11 and a beta of 0.95.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, February 14th. The financial services provider reported $0.55 earnings per share for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.93% and a return on equity of 7.16%. The business had revenue of $83.85 million during the quarter. As a group, analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.4%. This is a positive change from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, December 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 44.97%.

Insider Activity at Seacoast Banking Corporation of Florida

In other news, Director Dennis S. Hudson III sold 8,000 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $31.13, for a total value of $249,040.00. Following the sale, the director directly owned 251,275 shares of the company’s stock, valued at approximately $7,822,190.75. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.