Intech Investment Management LLC Has $1.40 Million Stock Holdings in Seacoast Banking Corporation of Florida $SBCF

Intech Investment Management LLC lessened its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,667 shares of the financial services provider’s stock after selling 22,310 shares during the quarter. Intech Investment Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $1,403,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Seacoast Banking Corporation of Florida by 11.1% in 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 purchasing an additional 705,554 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Seacoast Banking Corporation of Florida by 58.6% in the 3rd quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock valued at $166,825,000 after purchasing an additional 2,025,988 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Seacoast Banking Corporation of Florida by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,098,370 shares of the financial services provider’s stock valued at $94,284,000 after purchasing an additional 95,529 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 2,279,078 shares of the financial services provider’s stock valued at $71,623,000 after purchasing an additional 177,792 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its holdings in shares of Seacoast Banking Corporation of Florida by 3.5% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,224,435 shares of the financial services provider’s stock valued at $69,892,000 after purchasing an additional 76,192 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Analysts Set New Price Targets

SBCF has been the topic of a number of research analyst reports. Weiss Ratings raised Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler cut their price objective on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

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 Seacoast Banking Corporation of Florida stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total transaction of $235,320.32. Following the transaction, the executive vice president directly owned 7,247 shares of the company’s stock, valued at approximately $225,816.52. The trade was a 51.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles M. Shaffer sold 10,367 shares of Seacoast Banking Corporation of Florida 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 directly owned 174,113 shares in the company, valued at $5,376,609.44. The trade was a 5.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.50% of the stock is owned by company insiders.

Seacoast Banking Corporation of Florida Trading Down 0.0%

NASDAQ SBCF opened at $30.16 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.33. Seacoast Banking Corporation of Florida has a twelve month low of $24.46 and a twelve month high of $35.55. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 19.84 and a beta of 0.86. The business’s fifty day moving average is $30.93 and its 200 day moving average is $31.74.

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 for the quarter, beating the consensus estimate of $0.58 by $0.04. Seacoast Banking Corporation of Florida had a return on equity of 8.23% and a net margin of 14.42%.The company had revenue of $205.10 million for the quarter, compared to the consensus estimate of $205.51 million. During the same quarter last year, the business posted $0.38 EPS. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, sell-side analysts expect that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

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 issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, June 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 50.00%.

Seacoast Banking Corporation of Florida 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.