Aberdeen Group plc Has $23.83 Million Stake in Seacoast Banking Corporation of Florida $SBCF

Aberdeen Group plc lowered its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 5.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 758,283 shares of the financial services provider’s stock after selling 45,978 shares during the period. Aberdeen Group plc’s holdings in Seacoast Banking Corporation of Florida were worth $23,825,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBCF. Dakota Wealth Management acquired a new position in Seacoast Banking Corporation of Florida in the 4th quarter valued at approximately $204,000. SG Americas Securities LLC increased its holdings in Seacoast Banking Corporation of Florida by 57.3% in the 4th quarter. SG Americas Securities LLC now owns 25,206 shares of the financial services provider’s stock valued at $792,000 after buying an additional 9,185 shares during the period. Diversified Trust Co. acquired a new position in shares of Seacoast Banking Corporation of Florida in the 4th quarter valued at $203,000. Keyes Stange & Wooten Wealth Management LLC acquired a new position in shares of Seacoast Banking Corporation of Florida in the 3rd quarter valued at $202,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Seacoast Banking Corporation of Florida during the 3rd quarter worth about $276,000. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Corporation of Florida Price Performance

Shares of SBCF stock opened at $30.47 on Monday. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $35.55. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. The firm’s 50 day moving average is $31.91 and its 200-day moving average is $31.63. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 19.04 and a beta of 0.91.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The company had revenue of $204.80 million during the quarter, compared to the consensus estimate of $201.25 million. During the same quarter last year, the firm earned $0.48 EPS. The business’s revenue for the quarter was up 53.0% on a year-over-year basis. Sell-side analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, March 13th. Seacoast Banking Corporation of Florida’s payout ratio is currently 47.50%.

Analyst Upgrades and Downgrades

SBCF has been the subject of several recent research reports. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Zacks Research cut Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods increased their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Seacoast Banking Corporation of Florida presently has an average rating of “Hold” and an average target price of $31.90.

Insider Activity at Seacoast Banking Corporation of Florida

In other news, Director Dennis S. Hudson III sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $31.34, for a total value of $250,720.00. Following the transaction, the director owned 236,854 shares of the company’s stock, valued at approximately $7,423,004.36. This trade represents a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph M. Forlenza sold 12,635 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $32.90, for a total transaction of $415,691.50. Following the sale, the executive vice president owned 42,392 shares of the company’s stock, valued at approximately $1,394,696.80. This represents a 22.96% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 29,752 shares of company stock worth $976,846. Insiders own 1.60% of the company’s stock.

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.