Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 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 grew its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF – Free Report) by 48.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,564 shares of the financial services provider’s stock after buying an additional 28,724 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.10% of Seacoast Banking Co. of Florida worth $2,099,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SBCF. Deutsche Bank AG raised its stake in shares of Seacoast Banking Co. of Florida by 3,172.7% in the 4th quarter. Deutsche Bank AG now owns 869,561 shares of the financial services provider’s stock valued at $27,122,000 after buying an additional 842,991 shares in the last quarter. State Street Corp raised its stake in shares of Seacoast Banking Co. of Florida by 30.6% in the 1st quarter. State Street Corp now owns 3,042,733 shares of the financial services provider’s stock valued at $106,557,000 after buying an additional 713,391 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $17,738,000. Brown Advisory Inc. acquired a new position in shares of Seacoast Banking Co. of Florida in the 1st quarter valued at $9,024,000. Finally, Raymond James & Associates raised its stake in shares of Seacoast Banking Co. of Florida by 1,796.7% in the 1st quarter. Raymond James & Associates now owns 284,245 shares of the financial services provider’s stock valued at $6,737,000 after buying an additional 269,259 shares in the last quarter. Institutional investors and hedge funds own 81.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBCF. Truist Financial increased their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Raymond James increased their target price on shares of Seacoast Banking Co. of Florida from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. TheStreet upgraded shares of Seacoast Banking Co. of Florida from a “c” rating to a “b-” rating in a research report on Thursday, July 27th. Finally, Piper Sandler dropped their target price on shares of Seacoast Banking Co. of Florida from $29.00 to $25.00 in a research report on Monday, May 1st. 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 Research Report on Seacoast Banking Co. of Florida

Seacoast Banking Co. of Florida Trading Up 1.8 %

SBCF opened at $23.18 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.96 billion, a PE ratio of 17.43 and a beta of 1.11. Seacoast Banking Co. of Florida has a 1-year low of $17.93 and a 1-year high of $35.49. The firm has a 50-day moving average price of $23.52 and a two-hundred day moving average price of $24.53.

Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $148.54 million during the quarter, compared to analyst estimates of $153.40 million. Seacoast Banking Co. of Florida had a net margin of 15.31% and a return on equity of 5.50%. As a group, equities analysts anticipate 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%.

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 Company 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.