Public Employees Retirement System of Ohio Has $3.41 Million Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Public Employees Retirement System of Ohio cut its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 8.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,894 shares of the financial services provider’s stock after selling 11,289 shares during the period. Public Employees Retirement System of Ohio owned 0.15% of Seacoast Banking Co. of Florida worth $3,408,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other news, CEO Charles M. Shaffer sold 21,255 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the transaction, the chief executive officer now owns 126,232 shares of the company’s stock, valued at $3,832,403.52. This represents a 14.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Truist Financial decreased their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 28th. Stephens increased their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.70.

Seacoast Banking Co. of Florida Trading Up 1.0 %

NASDAQ SBCF opened at $29.17 on Tuesday. The business’s fifty day moving average is $28.57 and its 200-day moving average is $26.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 21.14 and a beta of 1.08. Seacoast Banking Co. of Florida has a one year low of $21.90 and a one year high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Equities research analysts predict that Seacoast Banking Co. of Florida will post 1.41 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.47%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 52.17%.

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.