World Investment Advisors LLC Buys New Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

World Investment Advisors LLC bought a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,236 shares of the financial services provider’s stock, valued at approximately $459,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBCF. GAMMA Investing LLC increased its position in Seacoast Banking Co. of Florida by 73.4% in 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 in the last quarter. Innealta Capital LLC bought a new stake in Seacoast Banking Co. of Florida during the 2nd quarter worth approximately $55,000. KBC Group NV increased its holdings in Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 768 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Seacoast Banking Co. of Florida during the 3rd quarter worth approximately $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.

Analyst Upgrades and Downgrades

A number of analysts have commented on SBCF shares. Stephens boosted their price objective on 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. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Truist Financial decreased their price objective 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.70.

Insider Activity at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the 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 sale, the chief executive officer now owns 126,232 shares in the company, valued at $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is owned by company insiders.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock opened at $28.22 on Wednesday. The firm has a market cap of $2.41 billion, a PE ratio of 20.45 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $28.57 and a 200-day moving average of $26.60. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. Seacoast Banking Co. of Florida’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. As a group, sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.41 earnings per share for the current 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 paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 2.55%. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

About Seacoast Banking Co. of Florida

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.