Seacoast Banking Corporation of Florida $SBCF Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. decreased its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 49.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,191 shares of the financial services provider’s stock after selling 76,925 shares during the quarter. Panagora Asset Management Inc. owned about 0.09% of Seacoast Banking Corporation of Florida worth $2,160,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in Seacoast Banking Corporation of Florida by 1.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 93,818 shares of the financial services provider’s stock worth $2,591,000 after acquiring an additional 998 shares during the period. Intech Investment Management LLC raised its stake in shares of Seacoast Banking Corporation of Florida by 36.5% during the first quarter. Intech Investment Management LLC now owns 91,340 shares of the financial services provider’s stock worth $2,350,000 after purchasing an additional 24,408 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Seacoast Banking Corporation of Florida by 12.8% during the first quarter. Russell Investments Group Ltd. now owns 569,866 shares of the financial services provider’s stock worth $14,663,000 after purchasing an additional 64,854 shares during the period. ZWJ Investment Counsel Inc. purchased a new position in Seacoast Banking Corporation of Florida in the 2nd quarter valued at $242,000. Finally, Deutsche Bank AG increased its stake in Seacoast Banking Corporation of Florida by 54.7% in the 1st quarter. Deutsche Bank AG now owns 114,082 shares of the financial services provider’s stock valued at $2,935,000 after buying an additional 40,330 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Analysts Set New Price Targets

SBCF has been the subject of a number of analyst reports. Raymond James Financial set a $33.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Piper Sandler reiterated a “neutral” rating and set a $33.50 target price on shares of Seacoast Banking Corporation of Florida in a research 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 report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.50.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other news, Director Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Monday, November 10th. The stock was 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 of the company’s stock, valued at $7,822,190.75. The trade was a 3.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Seacoast Banking Corporation of Florida Trading Up 2.3%

Shares of Seacoast Banking Corporation of Florida stock opened at $32.56 on Thursday. The company has a 50-day moving average of $30.70 and a two-hundred day moving average of $29.12. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $32.69. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.19 billion, a PE ratio of 19.27 and a beta of 0.95.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Monday, February 14th. The financial services provider reported $0.55 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 business had revenue of $83.85 million for the quarter. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.3%. This is a positive change from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, December 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 42.60%.

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.