Salzhauer Michael Sells 18,000 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Salzhauer Michael reduced its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 8.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 206,681 shares of the financial services provider’s stock after selling 18,000 shares during the quarter. Seacoast Banking Co. of Florida makes up 1.9% of Salzhauer Michael’s investment portfolio, making the stock its 10th largest holding. Salzhauer Michael’s holdings in Seacoast Banking Co. of Florida were worth $5,690,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in SBCF. The Manufacturers Life Insurance Company grew its position in shares of Seacoast Banking Co. of Florida by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 47,424 shares of the financial services provider’s stock valued at $1,121,000 after purchasing an additional 1,317 shares during the last quarter. GAMMA Investing LLC boosted 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 valued at $26,000 after purchasing an additional 412 shares during the period. Creative Planning acquired a new stake in Seacoast Banking Co. of Florida in the 3rd quarter valued at approximately $231,000. Trust Point Inc. increased its position in Seacoast Banking Co. of Florida by 2.8% in the 3rd quarter. Trust Point Inc. now owns 22,903 shares of the financial services provider’s stock worth $610,000 after buying an additional 617 shares during the period. Finally, Wealth Effects LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 10.4% during the third quarter. Wealth Effects LLC now owns 25,550 shares of the financial services provider’s stock worth $681,000 after buying an additional 2,400 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock opened at $29.09 on Monday. The firm has a market capitalization of $2.49 billion, a P/E ratio of 20.34 and a beta of 1.08. The stock has a fifty day moving average price of $27.85 and a two-hundred day moving average price of $27.50. Seacoast Banking Co. of Florida has a 52-week low of $21.90 and a 52-week high of $31.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. As a group, analysts anticipate that Seacoast Banking Co. of Florida will post 1.67 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 Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.48%. Seacoast Banking Co. of Florida’s payout ratio is 50.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SBCF shares. Truist Financial dropped their target price 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 report on Monday, October 28th. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Stephens boosted their price target on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Finally, Raymond James reaffirmed an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Company Profile

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.