Royce & Associates LP Has $27.36 Million Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Royce & Associates LP boosted its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,026,578 shares of the financial services provider’s stock after acquiring an additional 67,567 shares during the period. Royce & Associates LP’s holdings in Seacoast Banking Co. of Florida were worth $27,358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 412 shares during the period. Innealta Capital LLC bought a new stake in Seacoast Banking Co. of Florida in the second quarter valued at about $55,000. KBC Group NV increased its stake in Seacoast Banking Co. of Florida by 30.0% in the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 768 shares during the period. CIBC Asset Management Inc bought a new stake in Seacoast Banking Co. of Florida in the third quarter valued at about $211,000. Finally, Janney Montgomery Scott LLC increased its stake in Seacoast Banking Co. of Florida by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 460 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF stock opened at $29.50 on Friday. Seacoast Banking Co. of Florida has a 1 year low of $21.23 and a 1 year high of $30.78. The firm’s 50 day moving average is $27.23 and its 200-day moving average is $25.68. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 21.38 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. During the same period in the prior year, the business earned $0.37 earnings per share. Seacoast Banking Co. of Florida’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.42 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 2.44%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Wall Street Analysts Forecast Growth

SBCF has been the topic of several research analyst reports. Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. Stephens upped their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Finally, Truist Financial decreased their price objective on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.70.

Insider Activity at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares in the company, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.50% of the stock is currently owned by company insiders.

Seacoast Banking Co. of Florida Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.