AG Campbell Advisory LLC Makes New $744,000 Investment in Seacoast Banking Corporation of Florida $SBCF

AG Campbell Advisory LLC bought a new stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,685 shares of the financial services provider’s stock, valued at approximately $744,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Seacoast Banking Corporation of Florida by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock valued at $222,732,000 after acquiring an additional 705,554 shares during the last quarter. North Reef Capital Management LP grew its position in Seacoast Banking Corporation of Florida by 16.8% in the fourth quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock worth $183,244,000 after acquiring an additional 837,075 shares during the period. Wellington Management Group LLP increased its stake in Seacoast Banking Corporation of Florida by 58.6% during the third quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock worth $166,825,000 after acquiring an additional 2,025,988 shares during the last quarter. State Street Corp grew its holdings 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 purchasing an additional 64,986 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Seacoast Banking Corporation of Florida by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,098,370 shares of the financial services provider’s stock worth $94,284,000 after purchasing an additional 95,529 shares during the period. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Performance

Shares of Seacoast Banking Corporation of Florida stock opened at $30.84 on Friday. The company has a fifty day simple moving average of $31.03 and a 200-day simple moving average of $31.77. Seacoast Banking Corporation of Florida has a 12-month low of $24.78 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. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 20.29 and a beta of 0.86.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly 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 net margin of 14.42% and a return on equity of 8.23%. The firm had revenue of $205.10 million for the quarter, compared to analyst estimates of $205.51 million. During the same period last year, the business earned $0.38 EPS. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 45.8% compared to the same quarter last year. On average, equities analysts forecast that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders 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 of this dividend is Monday, June 15th. Seacoast Banking Corporation of Florida’s payout ratio is presently 50.00%.

Insider Buying and Selling

In other Seacoast Banking Corporation of Florida news, 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 directly owned 7,247 shares in the company, valued at approximately $225,816.52. The trade was a 51.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $320,132.96. Following the completion of the transaction, the chief executive officer owned 174,113 shares in the company, valued at $5,376,609.44. This trade represents a 5.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 25,919 shares of company stock worth $806,733 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

SBCF has been the subject of several research reports. Weiss Ratings downgraded shares of Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Piper Sandler lowered their target price on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida currently has an average rating of “Hold” and an average target price of $34.50.

Seacoast Banking Corporation of Florida Company 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.