JPMorgan Chase & Co. Has $14.77 Million Stock Position in Seacoast Banking Corporation of Florida $SBCF

JPMorgan Chase & Co. increased its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 33.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 534,877 shares of the financial services provider’s stock after purchasing an additional 132,796 shares during the period. JPMorgan Chase & Co.’s holdings in Seacoast Banking Corporation of Florida were worth $14,773,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Assetmark Inc. grew its position in Seacoast Banking Corporation of Florida by 24.0% in the second quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 375 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Seacoast Banking Corporation of Florida by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 366 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Seacoast Banking Corporation of Florida by 28.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 452 shares during the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in Seacoast Banking Corporation of Florida during the 2nd quarter worth approximately $129,000. Finally, CWM LLC increased its position in Seacoast Banking Corporation of Florida by 170.2% during the 2nd quarter. CWM LLC now owns 7,121 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 4,486 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $31.13, for a total transaction of $249,040.00. Following the completion of the transaction, the director owned 251,275 shares in the company, valued at approximately $7,822,190.75. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

NASDAQ SBCF opened at $32.33 on Friday. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 19.13 and a beta of 0.95. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $32.75. The stock has a fifty day simple moving average of $30.78 and a 200 day simple moving average of $29.21.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. The firm had revenue of $83.85 million for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%. Sell-side analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.19 dividend. The ex-dividend date is Monday, December 15th. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.4%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 42.60%.

Analyst Ratings Changes

A number of analysts have weighed in on SBCF shares. Piper Sandler reaffirmed a “neutral” rating and set a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. Raymond James Financial set a $33.00 price objective on Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods upped their target price on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Zacks Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.50.

About Seacoast Banking Corporation 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.