Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 28,724 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Posted by Defense World Staff on Aug 18th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF – Free Report) by 48.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,564 shares of the financial services provider’s stock after buying an additional 28,724 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.10% of Seacoast Banking Co. of Florida worth $2,099,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Great West Life Assurance Co. Can boosted its holdings in Seacoast Banking Co. of Florida by 0.6% in the 1st 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 period. FMR LLC boosted its holdings in Seacoast Banking Co. of Florida by 24.8% in the 2nd quarter. FMR LLC now owns 1,659 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 330 shares during the period. Commonwealth Equity Services LLC boosted its holdings in 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 purchasing an additional 331 shares during the period. Yousif Capital Management LLC boosted its holdings in Seacoast Banking Co. of Florida by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 53,192 shares of the financial services provider’s stock valued at $1,863,000 after purchasing an additional 336 shares during the period. Finally, American International Group Inc. boosted its holdings in Seacoast Banking Co. of Florida by 1.3% in the 4th quarter. American International Group Inc. now owns 33,639 shares of the financial services provider’s stock valued at $1,049,000 after purchasing an additional 425 shares during the period. 81.12% of the stock is owned by institutional investors.

Seacoast Banking Co. of Florida Trading Up 1.8 %

Shares of Seacoast Banking Co. of Florida stock opened at $23.18 on Friday. The stock has a market capitalization of $1.96 billion, a P/E ratio of 17.43 and a beta of 1.11. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $23.52 and a 200 day simple moving average of $24.53. Seacoast Banking Co. of Florida has a 12-month low of $17.93 and a 12-month high of $35.49.

Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Free Report) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). The firm had revenue of $148.54 million for the quarter, compared to analyst estimates of $153.40 million. Seacoast Banking Co. of Florida had a return on equity of 5.50% and a net margin of 15.31%. Research analysts expect that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, September 14th. Seacoast Banking Co. of Florida’s payout ratio is presently 54.14%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBCF. TheStreet upgraded shares of Seacoast Banking Co. of Florida from a “c” rating to a “b-” rating in a research note on Thursday, July 27th. Piper Sandler dropped their price objective on shares of Seacoast Banking Co. of Florida from $29.00 to $25.00 in a research note on Monday, May 1st. Truist Financial increased their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, Raymond James increased their price objective on shares of Seacoast Banking Co. of Florida from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

View Our Latest Stock Analysis on SBCF

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, EVP James C. Stallings III sold 2,990 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $23.78, for a total value of $71,102.20. Following the completion of the sale, the executive vice president now owns 3,703 shares in the company, valued at approximately $88,057.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida Profile

(Free Report)

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.