Seacoast Banking Corporation of Florida $SBCF Stock Position Increased by FJ Capital Management LLC

FJ Capital Management LLC grew its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,361,677 shares of the financial services provider’s stock after acquiring an additional 151,681 shares during the quarter. Seacoast Banking Corporation of Florida comprises about 4.8% of FJ Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. FJ Capital Management LLC owned 1.39% of Seacoast Banking Corporation of Florida worth $42,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Focus Partners Wealth boosted its holdings in shares of Seacoast Banking Corporation of Florida by 3,248.6% during the 4th quarter. Focus Partners Wealth now owns 247,662 shares of the financial services provider’s stock valued at $7,781,000 after acquiring an additional 240,266 shares during the last quarter. Barclays PLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 31.1% during the 4th quarter. Barclays PLC now owns 166,050 shares of the financial services provider’s stock valued at $5,217,000 after acquiring an additional 39,356 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 0.4% during the 4th quarter. Aptus Capital Advisors LLC now owns 440,333 shares of the financial services provider’s stock valued at $13,835,000 after acquiring an additional 1,917 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the 4th quarter valued at about $50,000. Finally, First Trust Advisors LP increased its position in Seacoast Banking Corporation of Florida by 53.4% during the fourth quarter. First Trust Advisors LP now owns 144,248 shares of the financial services provider’s stock valued at $4,532,000 after acquiring an additional 50,210 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

SBCF opened at $32.08 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 21.11 and a beta of 0.86. The company’s 50 day moving average is $31.04 and its 200 day moving average is $31.79. Seacoast Banking Corporation of Florida has a 12-month low of $24.46 and a 12-month high of $35.55.

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

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 2.4%. Seacoast Banking Corporation of Florida’s payout ratio is currently 50.00%.

Insider Activity at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, CEO Charles M. Shaffer sold 10,367 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Monday, May 4th. The shares were 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 of the company’s stock, valued at $5,376,609.44. The trade was a 5.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James C. Stallings III sold 7,552 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $31.16, for a total transaction of $235,320.32. Following the transaction, the executive vice president directly 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. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

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

About Seacoast Banking Corporation of Florida

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.