Dimensional Fund Advisors LP lifted its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,885,932 shares of the financial services provider’s stock after buying an additional 97,816 shares during the period. Dimensional Fund Advisors LP owned about 3.07% of Seacoast Banking Co. of Florida worth $58,823,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its position in Seacoast Banking Co. of Florida by 0.6% during the first quarter. Great West Life Assurance Co. Can now owns 50,589 shares of the financial services provider’s stock valued at $1,816,000 after purchasing an additional 317 shares during the last quarter. FMR LLC raised its stake in shares of Seacoast Banking Co. of Florida by 24.8% during the 2nd quarter. FMR LLC now owns 1,659 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 330 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 5.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 6,933 shares of the financial services provider’s stock valued at $209,000 after buying an additional 331 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Seacoast Banking Co. of Florida by 0.6% in the first quarter. Yousif Capital Management LLC now owns 53,192 shares of the financial services provider’s stock valued at $1,863,000 after buying an additional 336 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 0.6% in the third quarter. Prudential Financial Inc. now owns 64,391 shares of the financial services provider’s stock valued at $1,961,000 after buying an additional 381 shares in the last quarter. Institutional investors own 86.92% of the company’s stock.
Insiders Place Their Bets
In other Seacoast Banking Co. of Florida news, Director Christopher E. Fogal purchased 2,385 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were acquired at an average cost of $20.66 per share, for a total transaction of $49,274.10. Following the completion of the purchase, the director now owns 6,875 shares of the company’s stock, valued at approximately $142,037.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 4,697 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, February 27th. The stock was sold at an average price of $30.71, for a total value of $144,244.87. Following the completion of the transaction, the chief executive officer now directly owns 60,891 shares of the company’s stock, valued at approximately $1,869,962.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher E. Fogal bought 2,385 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were bought at an average price of $20.66 per share, with a total value of $49,274.10. Following the completion of the transaction, the director now owns 6,875 shares in the company, valued at approximately $142,037.50. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.
Seacoast Banking Co. of Florida Price Performance
Seacoast Banking Co. of Florida Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.38%. This is a positive change from Seacoast Banking Co. of Florida’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, June 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 45.64%.
Wall Street Analyst Weigh In
Several analysts have issued reports on SBCF shares. Raymond James dropped their price target on shares of Seacoast Banking Co. of Florida from $35.00 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th. StockNews.com initiated coverage on shares of Seacoast Banking Co. of Florida in a research note on Thursday, March 16th. They issued a “sell” rating for the company. Truist Financial lowered their price target on Seacoast Banking Co. of Florida from $29.00 to $26.00 in a research report on Monday, May 1st. Hovde Group upgraded Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and set a $33.00 price objective on the stock in a research note on Friday, March 17th. Finally, TheStreet downgraded Seacoast Banking Co. of Florida from a “b-” rating to a “c+” rating in a research note on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.80.
Seacoast Banking Co. of Florida 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.
Read More
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