TFC Financial Management Inc. Sells 571 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

TFC Financial Management Inc. reduced its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 33.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,142 shares of the financial services provider’s stock after selling 571 shares during the period. TFC Financial Management Inc.’s holdings in Seacoast Banking Co. of Florida were worth $31,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its holdings in shares of Seacoast Banking Co. of Florida by 0.8% during the third quarter. Hantz Financial Services Inc. now owns 51,132 shares of the financial services provider’s stock valued at $1,363,000 after buying an additional 383 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 worth $26,000 after purchasing an additional 412 shares during the last quarter. Trust Point Inc. boosted its holdings in Seacoast Banking Co. of Florida by 2.8% in the third quarter. Trust Point Inc. now owns 22,903 shares of the financial services provider’s stock worth $610,000 after purchasing an additional 617 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Seacoast Banking Co. of Florida by 1.3% in the third quarter. PNC Financial Services Group Inc. now owns 49,698 shares of the financial services provider’s stock worth $1,324,000 after purchasing an additional 659 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Seacoast Banking Co. of Florida by 30.0% in the third 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 during the last quarter. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Co. of Florida Trading Down 3.0 %

NASDAQ SBCF opened at $29.11 on Thursday. The firm has a 50 day moving average of $27.82 and a two-hundred day moving average of $27.52. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $2.49 billion, a PE ratio of 20.36 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. As a group, research analysts expect that Seacoast Banking Co. of Florida will post 1.67 EPS 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 Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.47%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

Analyst Ratings Changes

SBCF has been the topic of several research reports. Raymond James restated an “outperform” rating and issued a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Truist Financial reduced their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Stephens lifted their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Finally, StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Seacoast Banking Co. of Florida currently has an average rating of “Hold” and a consensus target price of $29.40.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.