Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Bought by Synovus Financial Corp

Synovus Financial Corp grew its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.9% in the 3rd quarter, Holdings Channel reports. The firm owned 32,696 shares of the financial services provider’s stock after acquiring an additional 2,396 shares during the quarter. Synovus Financial Corp’s holdings in Seacoast Banking Co. of Florida were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its stake in 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 buying an additional 412 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the second quarter valued at $55,000. KBC Group NV grew its position in shares of Seacoast Banking Co. of Florida by 30.0% during the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 768 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter worth about $121,000. Finally, FMR LLC increased its holdings in shares of Seacoast Banking Co. of Florida by 57.3% in the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,960 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Charles M. Shaffer sold 21,255 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

SBCF has been the subject of a number of analyst reports. Stephens boosted their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Truist Financial reduced their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Three research 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 company has a consensus rating of “Hold” and an average target price of $28.70.

Seacoast Banking Co. of Florida Stock Up 1.0 %

Seacoast Banking Co. of Florida stock opened at $29.17 on Tuesday. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 21.14 and a beta of 1.08. The company’s 50-day moving average price is $28.57 and its two-hundred day moving average price is $26.60. 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 posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. On average, analysts expect that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 52.17%.

Seacoast Banking Co. of Florida Company 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.