Brown Advisory Inc. Sells 255,770 Shares of Seacoast Banking Corporation of Florida $SBCF

Brown Advisory Inc. decreased its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 21.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 964,957 shares of the financial services provider’s stock after selling 255,770 shares during the quarter. Brown Advisory Inc.’s holdings in Seacoast Banking Corporation of Florida were worth $30,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Aptus Capital Advisors LLC grew its stake 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 worth $13,835,000 after acquiring an additional 1,917 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Seacoast Banking Corporation of Florida during the 4th quarter worth $50,000. First Trust Advisors LP grew its stake in shares of Seacoast Banking Corporation of Florida by 53.4% during the 4th quarter. First Trust Advisors LP now owns 144,248 shares of the financial services provider’s stock worth $4,532,000 after acquiring an additional 50,210 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Seacoast Banking Corporation of Florida by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,034,064 shares of the financial services provider’s stock worth $32,490,000 after acquiring an additional 86,140 shares during the period. Finally, State Street Corp grew its stake in shares of Seacoast Banking Corporation of Florida by 1.4% during the 4th quarter. State Street Corp now owns 4,610,754 shares of the financial services provider’s stock worth $144,870,000 after acquiring an additional 64,986 shares during the period. Institutional investors own 81.77% of the company’s stock.

Insider Activity

In other Seacoast Banking Corporation of Florida news, CEO Charles M. Shaffer sold 10,367 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $30.88, for a total value of $320,132.96. Following the sale, the chief executive officer owned 174,113 shares of the company’s stock, valued at $5,376,609.44. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James C. Stallings III sold 7,552 shares of the firm’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 sale, the executive vice president directly owned 7,247 shares in the company, valued at approximately $225,816.52. The trade was a 51.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Seacoast Banking Corporation of Florida Stock Down 3.0%

Shares of NASDAQ SBCF opened at $31.12 on Tuesday. Seacoast Banking Corporation of Florida has a 52 week low of $24.46 and a 52 week high of $35.55. The business has a 50-day simple moving average of $31.05 and a two-hundred day simple moving average of $31.80. 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 company has a market cap of $3.03 billion, a P/E ratio of 20.47 and a beta of 0.86.

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

Seacoast Banking Corporation of Florida Dividend Announcement

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

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.