Bluedoor Private Wealth LLC Buys New Shares in Seacoast Banking Corporation of Florida $SBCF

Bluedoor Private Wealth LLC bought a new position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 279,296 shares of the financial services provider’s stock, valued at approximately $8,775,000. Seacoast Banking Corporation of Florida accounts for 4.0% of Bluedoor Private Wealth LLC’s holdings, making the stock its 2nd biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings 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 acquiring an additional 352 shares during the period. Salomon & Ludwin LLC increased its position in Seacoast Banking Corporation of Florida by 59.3% during the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 356 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Seacoast Banking Corporation of Florida during the third quarter worth approximately $33,000. Advisory Services Network LLC purchased a new position in Seacoast Banking Corporation of Florida during the third quarter worth approximately $45,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 41.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 478 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, EVP James C. Stallings III sold 7,552 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was 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 of the company’s stock, valued at $225,816.52. This trade represents a 51.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles M. Shaffer sold 10,367 shares of the business’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 transaction, the chief executive officer owned 174,113 shares in the company, valued at approximately $5,376,609.44. This represents a 5.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.50% of the stock is currently owned by corporate insiders.

Seacoast Banking Corporation of Florida Trading Down 3.0%

NASDAQ SBCF opened at $31.12 on Tuesday. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 20.47 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 one year low of $24.46 and a one year high of $35.55. The company’s 50 day moving average price is $31.05 and its 200 day moving average price is $31.80.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (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 company had revenue of $205.10 million during the quarter, compared to the consensus estimate of $205.51 million. During the same period in the previous year, the firm earned $0.38 earnings per share. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, sell-side analysts predict that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

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

Analysts Set New Price Targets

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

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.