GW&K Investment Management LLC Sells 21,581 Shares of Seacoast Banking Corporation of Florida $SBCF

GW&K Investment Management LLC decreased its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,467,500 shares of the financial services provider’s stock after selling 21,581 shares during the quarter. GW&K Investment Management LLC owned approximately 1.50% of Seacoast Banking Corporation of Florida worth $46,108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SBCF. LPL Financial LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 3.9% during the 4th quarter. LPL Financial LLC now owns 38,216 shares of the financial services provider’s stock worth $1,201,000 after buying an additional 1,435 shares during the period. Summer Road LLC acquired a new stake in Seacoast Banking Corporation of Florida during the fourth quarter worth approximately $98,000. 1492 Capital Management LLC acquired a new stake in Seacoast Banking Corporation of Florida during the fourth quarter worth approximately $204,000. Goldman Sachs Group Inc. boosted its holdings in shares of Seacoast Banking Corporation of Florida by 0.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,098,914 shares of the financial services provider’s stock worth $34,528,000 after acquiring an additional 7,972 shares during the period. Finally, Natixis Advisors LLC grew its position in shares of Seacoast Banking Corporation of Florida by 5.6% in the fourth quarter. Natixis Advisors LLC now owns 56,154 shares of the financial services provider’s stock valued at $1,764,000 after purchasing an additional 2,977 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ SBCF opened at $30.78 on Wednesday. The business has a fifty day moving average price of $30.96 and a two-hundred day moving average price of $31.77. The stock has a market capitalization of $2.99 billion, a PE ratio of 20.25 and a beta of 0.86. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.78 and a quick ratio of 0.78. Seacoast Banking Corporation of Florida has a fifty-two week low of $24.46 and a fifty-two week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $205.10 million for the quarter, compared to analysts’ expectations of $205.51 million. Seacoast Banking Corporation of Florida had a return on equity of 8.23% and a net margin of 14.42%.Seacoast Banking Corporation of Florida’s revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. As a group, equities analysts predict that Seacoast Banking Corporation of Florida will post 2.49 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 50.00%.

Insider Activity at Seacoast Banking Corporation of Florida

In other Seacoast Banking Corporation of Florida news, CEO Charles M. Shaffer sold 10,367 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $30.88, for a total transaction of $320,132.96. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James C. Stallings III sold 7,552 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total value of $235,320.32. Following the sale, the executive vice president owned 7,247 shares of the company’s stock, valued at $225,816.52. The trade was a 51.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SBCF has been the subject of several research reports. Piper Sandler dropped their price target on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating for the company in a report on Thursday, April 30th. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Seacoast Banking Corporation of Florida Company 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.