AG Campbell Advisory LLC Makes New $648,000 Investment in Seacoast Banking Corporation of Florida $SBCF

AG Campbell Advisory LLC acquired a new position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) in the fourth quarter, Holdings Channel reports. The fund acquired 20,625 shares of the financial services provider’s stock, valued at approximately $648,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of Seacoast Banking Corporation of Florida by 69.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock worth $26,000 after buying an additional 352 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Seacoast Banking Corporation of Florida in the 4th quarter worth approximately $26,000. Salomon & Ludwin LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 59.3% in the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 356 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the third quarter valued at approximately $33,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF stock opened at $30.84 on Friday. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 20.29 and a beta of 0.86. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78. Seacoast Banking Corporation of Florida has a 52 week low of $24.78 and a 52 week high of $35.55. The firm’s 50-day simple moving average is $31.03 and its two-hundred day simple moving average is $31.77.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $205.51 million. During the same period in the prior year, the firm earned $0.38 EPS. The company’s revenue was up 45.8% compared to the same quarter last year. As a group, equities analysts forecast that Seacoast Banking Corporation of Florida will post 2.49 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 50.00%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. 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 note on Thursday, April 30th. Finally, Weiss Ratings downgraded Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, June 15th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.50.

Insider Activity at Seacoast Banking Corporation of Florida

In related news, Director Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Corporation of Florida stock in a transaction dated 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 of the company’s stock, valued at approximately $6,937,024.14. This trade represents a 3.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles M. Shaffer sold 10,367 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 174,113 shares in the company, valued at $5,376,609.44. This represents a 5.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 25,919 shares of company stock worth $806,733. Insiders own 1.50% of the company’s stock.

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.