Seacoast Banking Corporation of Florida $SBCF Holdings Reduced by Aberdeen Group plc

Aberdeen Group plc lowered its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 758,283 shares of the financial services provider’s stock after selling 45,978 shares during the quarter. Aberdeen Group plc owned about 0.78% of Seacoast Banking Corporation of Florida worth $23,825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SBCF. Dakota Wealth Management acquired a new stake in Seacoast Banking Corporation of Florida in the fourth quarter worth about $204,000. SG Americas Securities LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 57.3% in the 4th quarter. SG Americas Securities LLC now owns 25,206 shares of the financial services provider’s stock worth $792,000 after acquiring an additional 9,185 shares during the period. Diversified Trust Co. bought a new position in shares of Seacoast Banking Corporation of Florida in the fourth quarter valued at approximately $203,000. Keyes Stange & Wooten Wealth Management LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the third quarter valued at approximately $202,000. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Seacoast Banking Corporation of Florida during the third quarter valued at approximately $276,000. 81.77% of the stock is owned by institutional investors.

Insider Transactions at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, EVP Joseph M. Forlenza sold 12,635 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $32.90, for a total value of $415,691.50. Following the completion of the sale, the executive vice president directly owned 42,392 shares of the company’s stock, valued at $1,394,696.80. The trade was a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Maryann Goebel sold 3,419 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $34.23, for a total transaction of $117,032.37. Following the transaction, the director directly owned 6,000 shares in the company, valued at $205,380. The trade was a 36.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,752 shares of company stock valued at $976,846. Insiders own 1.60% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

NASDAQ SBCF opened at $30.47 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 19.04 and a beta of 0.91. The company has a 50 day simple moving average of $31.91 and a 200-day simple moving average of $31.63. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). The company had revenue of $204.80 million for the quarter, compared to analysts’ expectations of $201.25 million. Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The business’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. Equities research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a $0.19 dividend. The ex-dividend date was Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. Seacoast Banking Corporation of Florida’s payout ratio is 47.50%.

Analyst Upgrades and Downgrades

SBCF has been the subject of several research reports. Keefe, Bruyette & Woods raised their target price on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings upgraded shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Finally, Zacks Research downgraded shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.90.

Seacoast Banking Corporation of Florida Company Profile

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.