Seacoast Banking Corporation of Florida $SBCF Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,319,652 shares of the financial services provider’s stock after selling 44,324 shares during the period. Bank of New York Mellon Corp owned approximately 1.53% of Seacoast Banking Corporation of Florida worth $36,449,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter worth $410,000. Envestnet Asset Management Inc. increased its stake in Seacoast Banking Corporation of Florida by 1.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 143,979 shares of the financial services provider’s stock worth $3,705,000 after purchasing an additional 2,139 shares in the last quarter. CWM LLC raised its holdings in Seacoast Banking Corporation of Florida by 61.6% during the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after buying an additional 1,004 shares during the period. MQS Management LLC purchased a new stake in Seacoast Banking Corporation of Florida during the first quarter valued at about $244,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 3.2% in the first quarter. Segall Bryant & Hamill LLC now owns 1,916,743 shares of the financial services provider’s stock worth $49,318,000 after buying an additional 58,560 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Insiders Place Their Bets

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $31.13, for a total value of $249,040.00. Following the completion of the sale, the director directly owned 251,275 shares in the company, valued at $7,822,190.75. The trade was a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SBCF shares. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Raymond James Financial set a $33.00 target price on shares of Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods raised their target price on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Piper Sandler reiterated a “neutral” rating and set a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Seacoast Banking Corporation of Florida Trading Down 1.3%

Seacoast Banking Corporation of Florida stock opened at $30.80 on Thursday. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $32.33. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.01 billion, a P/E ratio of 18.22 and a beta of 1.01. The company’s fifty day simple moving average is $30.72 and its 200-day simple moving average is $28.48.

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

Seacoast Banking Corporation of Florida Increases Dividend

The company also recently disclosed 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. This is an increase from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, December 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 44.97%.

Seacoast Banking Corporation 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.