Teacher Retirement System of Texas Has $485,000 Stake in Seacoast Banking Corporation of Florida $SBCF

Teacher Retirement System of Texas increased its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 10.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 17,570 shares of the financial services provider’s stock after acquiring an additional 1,644 shares during the quarter. Teacher Retirement System of Texas’ holdings in Seacoast Banking Corporation of Florida were worth $485,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. IFP Advisors Inc lifted its holdings in Seacoast Banking Corporation of Florida by 343.9% during the 1st quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock worth $33,000 after buying an additional 994 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after buying an additional 366 shares during the period. CWM LLC raised its position in shares of Seacoast Banking Corporation of Florida by 61.6% during the first quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 1,004 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new stake in shares of Seacoast Banking Corporation of Florida during the second quarter worth $242,000. Finally, MQS Management LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the first quarter valued at $244,000. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

Seacoast Banking Corporation of Florida stock opened at $30.91 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.85 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $3.02 billion, a P/E ratio of 18.29 and a beta of 1.01. The business has a 50-day moving average of $30.72 and a 200-day moving average of $28.36. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $32.33.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Monday, February 14th. The financial services provider reported $0.55 earnings per share for the quarter. The business had revenue of $83.85 million for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.93% and a return on equity of 7.16%. On average, equities analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.19 dividend. This is a positive change from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 44.97%.

Analyst Ratings Changes

A number of analysts recently commented on SBCF shares. Keefe, Bruyette & Woods lifted their price objective on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Piper Sandler reiterated a “neutral” rating and set a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Raymond James Financial set a $33.00 price target on shares of Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Finally, Zacks Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Seacoast Banking Corporation of Florida has an average rating of “Moderate Buy” and an average target price of $31.50.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.