abrdn plc Cuts Stock Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

abrdn plc decreased its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 17.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 924,342 shares of the financial services provider’s stock after selling 198,136 shares during the period. abrdn plc’s holdings in Seacoast Banking Co. of Florida were worth $25,447,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. KBC Group NV boosted its position in shares of Seacoast Banking Co. of Florida by 33.7% during the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock valued at $122,000 after buying an additional 1,121 shares during the last quarter. Tributary Capital Management LLC boosted its position in shares of Seacoast Banking Co. of Florida by 44.4% during the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock valued at $18,028,000 after buying an additional 201,494 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Seacoast Banking Co. of Florida by 24.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 1,930 shares during the period. ZWJ Investment Counsel Inc. bought a new stake in Seacoast Banking Co. of Florida during the fourth quarter worth $203,000. Finally, Neville Rodie & Shaw Inc. bought a new stake in Seacoast Banking Co. of Florida during the fourth quarter worth $206,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF opened at $29.16 on Thursday. The firm has a market cap of $2.49 billion, a PE ratio of 20.39 and a beta of 1.08. The stock’s fifty day moving average price is $27.89 and its two-hundred day moving average price is $27.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. On average, equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.62 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.18 per share. The ex-dividend date 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 payout ratio is 50.35%.

Insider Activity at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the business’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 sale, the chief executive officer now directly owns 126,232 shares in the company, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SBCF has been the topic of a number of recent analyst reports. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Raymond James reiterated an “outperform” rating and set a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Truist Financial dropped their price target on 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. Finally, Stephens lifted their price target 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus target price of $29.40.

Seacoast Banking Co. of Florida Company Profile

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.