Swiss National Bank Purchases 20,300 Shares of Seacoast Banking Corporation of Florida $SBCF

Swiss National Bank lifted its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 11.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,600 shares of the financial services provider’s stock after buying an additional 20,300 shares during the period. Swiss National Bank owned approximately 0.20% of Seacoast Banking Corporation of Florida worth $5,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SBCF. Royal Bank of Canada increased its position in Seacoast Banking Corporation of Florida by 41.5% during the first quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider’s stock valued at $2,777,000 after acquiring an additional 31,636 shares during the last quarter. AQR Capital Management LLC boosted its position in Seacoast Banking Corporation of Florida by 123.4% in the first quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock worth $2,133,000 after purchasing an additional 45,792 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Seacoast Banking Corporation of Florida by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider’s stock valued at $1,293,000 after purchasing an additional 2,187 shares during the period. Jane Street Group LLC bought a new stake in shares of Seacoast Banking Corporation of Florida during the 1st quarter valued at about $4,817,000. Finally, Cetera Investment Advisers increased its position in shares of Seacoast Banking Corporation of Florida by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 513 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SBCF. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Piper Sandler boosted their target price on shares of Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Seacoast Banking Corporation of Florida has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Insider Buying and Selling

In other Seacoast Banking Corporation of Florida news, Director Dennis S. Hudson III sold 8,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total value of $251,280.00. Following the completion of the sale, the director owned 220,854 shares in the company, valued at approximately $6,937,024.14. This represents a 3.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP James C. Stallings III sold 7,552 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $31.16, for a total value of $235,320.32. Following the completion of the transaction, the executive vice president owned 7,247 shares in the company, valued at $225,816.52. The trade was a 51.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 29,919 shares of company stock valued at $942,733. Company insiders own 1.50% of the company’s stock.

Seacoast Banking Corporation of Florida Trading Up 1.2%

Seacoast Banking Corporation of Florida stock opened at $33.65 on Wednesday. The firm has a 50 day moving average of $31.91 and a 200 day moving average of $31.93. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 22.14 and a beta of 0.85. Seacoast Banking Corporation of Florida has a 12-month low of $27.22 and a 12-month high of $35.55. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $209.99 million for the quarter, compared to the consensus estimate of $209.84 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. As a group, research analysts predict that Seacoast Banking Corporation of Florida will post 2.51 earnings per share for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida’s payout ratio is 50.00%.

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.