Seacoast Banking Corporation of Florida $SBCF Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC decreased its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 43.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,033 shares of the financial services provider’s stock after selling 36,412 shares during the quarter. Global Trust Asset Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Seacoast Banking Corporation of Florida by 3.9% during the third quarter. Envestnet Portfolio Solutions Inc. now owns 9,274 shares of the financial services provider’s stock worth $282,000 after acquiring an additional 344 shares during the last quarter. Jones Financial Companies Lllp raised its position in Seacoast Banking Corporation of Florida by 69.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 352 shares during the last quarter. GAMMA Investing LLC raised its position in Seacoast Banking Corporation of Florida by 19.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,424 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 388 shares during the last quarter. Arizona State Retirement System boosted its stake in Seacoast Banking Corporation of Florida by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 25,440 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 473 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Seacoast Banking Corporation of Florida by 41.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SBCF. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Zacks Research lowered Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.90.

Insider Transactions at Seacoast Banking Corporation of Florida

In other news, Director Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $31.34, for a total value of $250,720.00. Following the completion of the transaction, the director directly owned 236,854 shares of the company’s stock, valued at $7,423,004.36. The trade was a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Joseph M. Forlenza sold 12,635 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $32.90, for a total transaction of $415,691.50. Following the completion of the sale, the executive vice president directly owned 42,392 shares in the company, valued at $1,394,696.80. This represents a 22.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,752 shares of company stock worth $976,846 in the last quarter. Insiders own 1.60% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

SBCF stock opened at $30.47 on Friday. The firm has a 50 day moving average of $31.91 and a 200-day moving average of $31.61. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $35.55. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 19.04 and a beta of 0.91.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $204.80 million for the quarter, compared to analyst estimates of $201.25 million. Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The company’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. As a group, equities analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, March 13th. Seacoast Banking Corporation of Florida’s payout ratio is currently 47.50%.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.