Trust Point Inc. Boosts Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Trust Point Inc. boosted its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 2.8% during the third quarter, Holdings Channel reports. The firm owned 22,903 shares of the financial services provider’s stock after acquiring an additional 617 shares during the quarter. Trust Point Inc.’s holdings in Seacoast Banking Co. of Florida were worth $610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after buying an additional 412 shares during the period. Innealta Capital LLC bought a new stake in shares of Seacoast Banking Co. of Florida during the 2nd quarter valued at $55,000. Algert Global LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter worth about $202,000. Janney Montgomery Scott LLC increased its stake in shares of Seacoast Banking Co. of Florida by 6.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 460 shares in the last quarter. Finally, Creative Planning purchased a new position in Seacoast Banking Co. of Florida during the 3rd quarter valued at about $231,000. Institutional investors own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SBCF. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Truist Financial upped their price target on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, Hovde Group cut Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $29.00 to $31.00 in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Seacoast Banking Co. of Florida has an average rating of “Hold” and a consensus target price of $29.88.

Seacoast Banking Co. of Florida Trading Down 2.1 %

Shares of NASDAQ SBCF opened at $27.83 on Friday. The firm’s 50 day moving average price is $26.64 and its 200-day moving average price is $25.02. Seacoast Banking Co. of Florida has a 52-week low of $19.04 and a 52-week high of $29.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $2.36 billion, a PE ratio of 20.02 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The business had revenue of $201.99 million for the quarter, compared to analysts’ expectations of $126.00 million. During the same period in the prior year, the firm posted $0.37 EPS. On average, equities research analysts expect that Seacoast Banking Co. of Florida will post 1.43 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.72 annualized dividend and a yield of 2.59%. Seacoast Banking Co. of Florida’s payout ratio is 51.80%.

Seacoast Banking Co. of Florida Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.