Jefferies Financial Group Inc. Lowers Stock Holdings in Seacoast Banking Corporation of Florida $SBCF

Jefferies Financial Group Inc. lowered its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 71.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,750 shares of the financial services provider’s stock after selling 35,180 shares during the period. Jefferies Financial Group Inc.’s holdings in Seacoast Banking Corporation of Florida were worth $380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBCF. Westwood Holdings Group Inc. boosted its holdings in Seacoast Banking Corporation of Florida by 27.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider’s stock valued at $73,834,000 after purchasing an additional 622,709 shares during the period. Geode Capital Management LLC raised its position in shares of Seacoast Banking Corporation of Florida by 0.7% in the second quarter. Geode Capital Management LLC now owns 2,072,290 shares of the financial services provider’s stock worth $57,244,000 after buying an additional 14,896 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in Seacoast Banking Corporation of Florida by 0.5% during the second quarter. Segall Bryant & Hamill LLC now owns 1,927,217 shares of the financial services provider’s stock valued at $53,230,000 after buying an additional 10,474 shares during the period. Aberdeen Group plc grew its position in Seacoast Banking Corporation of Florida by 7.0% during the first quarter. Aberdeen Group plc now owns 989,412 shares of the financial services provider’s stock worth $25,458,000 after buying an additional 65,070 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Seacoast Banking Corporation of Florida by 5.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 953,894 shares of the financial services provider’s stock worth $24,544,000 after acquiring an additional 50,417 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Down 0.2%

Shares of NASDAQ SBCF opened at $31.56 on Friday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 18.67 and a beta of 1.01. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $32.33. The firm’s 50 day simple moving average is $30.61 and its two-hundred day simple moving average is $28.96. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.85.

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

Seacoast Banking Corporation of Florida Increases Dividend

The business also recently disclosed 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 an increase from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, December 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 44.97%.

Analyst Ratings Changes

Several research firms have weighed in on SBCF. Raymond James Financial set a $33.00 price target on Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their target price on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Wednesday, October 8th. Piper Sandler reissued a “neutral” rating and issued a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Finally, Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Seacoast Banking Corporation of Florida presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other news, Director Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $31.13, for a total value of $249,040.00. Following the completion of the sale, the director owned 251,275 shares of the company’s stock, valued at approximately $7,822,190.75. The trade was a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

About Seacoast Banking Corporation of Florida

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.