William Blair Investment Management LLC Boosts Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

William Blair Investment Management LLC raised its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 24.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,170,146 shares of the financial services provider’s stock after purchasing an additional 226,132 shares during the quarter. William Blair Investment Management LLC owned 1.38% of Seacoast Banking Co. of Florida worth $29,710,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in Seacoast Banking Co. of Florida during the 1st quarter valued at about $1,325,000. Russell Investments Group Ltd. lifted its holdings in shares of Seacoast Banking Co. of Florida by 70.9% in the 4th quarter. Russell Investments Group Ltd. now owns 375,529 shares of the financial services provider’s stock valued at $10,688,000 after buying an additional 155,776 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Seacoast Banking Co. of Florida by 10.2% in the 4th quarter. Schroder Investment Management Group now owns 551,327 shares of the financial services provider’s stock valued at $15,691,000 after buying an additional 50,902 shares during the period. One Wealth Management Investment & Advisory Services LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at about $1,321,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Seacoast Banking Co. of Florida by 31.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after buying an additional 1,106,724 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, EVP James C. Stallings III sold 3,855 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.44, for a total transaction of $94,216.20. Following the completion of the transaction, the executive vice president now owns 3,961 shares of the company’s stock, valued at $96,806.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SBCF. Truist Financial decreased their price objective on Seacoast Banking Co. of Florida from $25.00 to $24.00 and set a “hold” rating for the company in a report on Monday, July 8th. Hovde Group decreased their price objective on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Keefe, Bruyette & Woods raised Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $26.00 to $27.00 in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.10.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF opened at $27.99 on Thursday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 19.99 and a beta of 1.10. Seacoast Banking Co. of Florida has a twelve month low of $19.04 and a twelve month high of $29.98. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $23.58 and a 200 day moving average of $24.33.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). The business had revenue of $125.58 million during the quarter, compared to analyst estimates of $127.95 million. Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. Sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.42 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.57%. Seacoast Banking Co. of Florida’s payout ratio is currently 51.43%.

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.