Seacoast Banking Corporation of Florida $SBCF Stock Holdings Trimmed by Heartland Advisors Inc.

Heartland Advisors Inc. lessened its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 632,052 shares of the financial services provider’s stock after selling 30,406 shares during the period. Seacoast Banking Corporation of Florida makes up 1.1% of Heartland Advisors Inc.’s holdings, making the stock its 13th largest position. Heartland Advisors Inc. owned about 0.65% of Seacoast Banking Corporation of Florida worth $19,859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SBCF. Wellington Management Group LLP raised its stake in shares of Seacoast Banking Corporation of Florida by 58.6% in the 3rd quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock worth $166,825,000 after buying an additional 2,025,988 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Seacoast Banking Corporation of Florida by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock worth $222,732,000 after buying an additional 705,554 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Seacoast Banking Corporation of Florida in the 3rd quarter worth $14,865,000. Ameriprise Financial Inc. raised its stake in shares of Seacoast Banking Corporation of Florida by 78.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 679,218 shares of the financial services provider’s stock worth $20,669,000 after buying an additional 297,892 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Seacoast Banking Corporation of Florida by 125.8% in the 3rd quarter. UBS Group AG now owns 390,625 shares of the financial services provider’s stock worth $11,887,000 after buying an additional 217,613 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Charles M. Shaffer sold 10,367 shares of Seacoast Banking Corporation of Florida stock in a transaction on Monday, May 4th. The stock was sold at an average price of $30.88, for a total transaction of $320,132.96. Following the transaction, the chief executive officer owned 174,113 shares in the company, valued at approximately $5,376,609.44. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James C. Stallings III sold 7,552 shares of Seacoast Banking Corporation of Florida stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $31.16, for a total value of $235,320.32. Following the transaction, the executive vice president owned 7,247 shares in the company, valued at $225,816.52. This represents a 51.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.50% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

Shares of NASDAQ SBCF opened at $30.88 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 20.32 and a beta of 0.86. The stock’s fifty day simple moving average is $30.99 and its 200 day simple moving average is $31.78. Seacoast Banking Corporation of Florida has a 52-week low of $24.46 and a 52-week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $205.10 million for the quarter, compared to analysts’ expectations of $205.51 million. Seacoast Banking Corporation of Florida had a return on equity of 8.23% and a net margin of 14.42%.The company’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. As a group, sell-side analysts forecast that Seacoast Banking Corporation of Florida will post 2.49 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, June 15th. Seacoast Banking Corporation of Florida’s payout ratio is presently 50.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on SBCF. Piper Sandler dropped their price objective on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Seacoast Banking Corporation of Florida currently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

Seacoast Banking Corporation of Florida Profile

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.