Pathstone Holdings LLC Increases Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Pathstone Holdings LLC grew its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 2.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 103,518 shares of the financial services provider’s stock after buying an additional 2,910 shares during the quarter. Pathstone Holdings LLC’s holdings in Seacoast Banking Co. of Florida were worth $2,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after buying an additional 412 shares during the period. Innealta Capital LLC purchased a new stake in Seacoast Banking Co. of Florida in the 2nd quarter worth $55,000. KBC Group NV raised its position in Seacoast Banking Co. of Florida by 30.0% during the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after acquiring an additional 768 shares during the period. Algert Global LLC purchased a new position in Seacoast Banking Co. of Florida during the second quarter valued at $202,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Seacoast Banking Co. of Florida in the third quarter valued at about $211,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Insider Buying and Selling

In other news, CEO Charles M. Shaffer sold 21,255 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the sale, the chief executive officer now owns 126,232 shares of the company’s stock, valued at $3,832,403.52. This represents a 14.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Hovde Group downgraded shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $29.00 to $31.00 in a research report on Monday, July 29th. Stephens increased their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Truist Financial lowered their price target on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida has an average rating of “Hold” and an average price target of $28.70.

Seacoast Banking Co. of Florida Trading Up 1.1 %

SBCF opened at $30.90 on Tuesday. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 22.39 and a beta of 1.07. The company’s 50 day simple moving average is $27.55 and its two-hundred day simple moving average is $25.91. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $130.30 million for the quarter, compared to the consensus estimate of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. Analysts expect that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

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.