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

Intech Investment Management LLC cut its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 33.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Deprince Race & Zollo Inc. grew its stake in shares of Seacoast Banking Corporation of Florida by 3.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,224,435 shares of the financial services provider’s stock worth $69,892,000 after acquiring an additional 76,192 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 4.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,282,535 shares of the financial services provider’s stock worth $40,297,000 after acquiring an additional 59,780 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Seacoast Banking Corporation of Florida by 11.1% in the fourth quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock worth $222,732,000 after acquiring an additional 705,554 shares during the last quarter. Boothbay Fund Management LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 48.2% in the third quarter. Boothbay Fund Management LLC now owns 187,879 shares of the financial services provider’s stock worth $5,717,000 after acquiring an additional 61,119 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of Seacoast Banking Corporation of Florida by 23.9% in the fourth quarter. UBS Group AG now owns 484,006 shares of the financial services provider’s stock worth $15,207,000 after acquiring an additional 93,381 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Seacoast Banking Corporation of Florida Stock Performance

NASDAQ SBCF opened at $30.16 on Friday. The stock has a market capitalization of $2.93 billion, a PE ratio of 19.84 and a beta of 0.86. The business has a 50 day simple moving average of $30.93 and a two-hundred day simple moving average of $31.74. 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 1-year low of $24.46 and a 1-year high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results 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. The business had revenue of $205.10 million during 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%.The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. On average, research analysts predict that Seacoast Banking Corporation of Florida will post 2.49 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.5%. The ex-dividend date 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, EVP James C. Stallings III sold 7,552 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total transaction of $235,320.32. Following the completion of the transaction, the executive vice president owned 7,247 shares in the company, valued at $225,816.52. This trade represents a 51.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles M. Shaffer sold 10,367 shares of the firm’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 value of $320,132.96. Following the completion of the sale, the chief executive officer directly owned 174,113 shares of the company’s stock, valued at $5,376,609.44. The trade was a 5.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.50% of the company’s stock.

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.