Seacoast Banking Corporation of Florida $SBCF Stock Position Cut by Endeavour Capital Advisors Inc.

Endeavour Capital Advisors Inc. cut its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 86.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,688 shares of the financial services provider’s stock after selling 73,983 shares during the period. Endeavour Capital Advisors Inc.’s holdings in Seacoast Banking Corporation of Florida were worth $356,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SBCF. First National Bank of Omaha acquired a new position in Seacoast Banking Corporation of Florida in the third quarter worth about $694,000. Vanguard Group Inc. grew its holdings in shares of Seacoast Banking Corporation of Florida by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,383,315 shares of the financial services provider’s stock valued at $194,244,000 after buying an additional 33,993 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Seacoast Banking Corporation of Florida by 9.6% during the third quarter. PNC Financial Services Group Inc. now owns 52,736 shares of the financial services provider’s stock worth $1,605,000 after acquiring an additional 4,629 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Seacoast Banking Corporation of Florida by 16.8% during the third quarter. Public Sector Pension Investment Board now owns 338,543 shares of the financial services provider’s stock worth $10,302,000 after buying an additional 48,661 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Seacoast Banking Corporation of Florida by 0.7% during the 3rd quarter. Rhumbline Advisers now owns 253,765 shares of the financial services provider’s stock worth $7,722,000 after buying an additional 1,792 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Trading Down 0.0%

NASDAQ:SBCF opened at $33.62 on Thursday. The company has a 50-day moving average price of $33.08 and a 200-day moving average price of $31.42. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 21.01 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.35. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.07%. The firm had revenue of $204.80 million for the quarter, compared to the consensus estimate of $201.25 million. During the same period last year, the business earned $0.48 EPS. Seacoast Banking Corporation of Florida’s revenue was up 53.0% on a year-over-year basis. Equities analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $0.19 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida’s payout ratio is 47.50%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBCF. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Thursday, January 22nd. Piper Sandler reiterated a “neutral” rating and issued a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. Zacks Research downgraded Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods upped their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.90.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other news, Director Dennis J. Arczynski sold 3,419 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $34.21, for a total transaction of $116,963.99. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $34,210. This trade represents a 77.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Maryann Goebel sold 3,419 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $34.23, for a total transaction of $117,032.37. Following the sale, the director directly owned 6,000 shares of the company’s stock, valued at approximately $205,380. The trade was a 36.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,117 shares of company stock valued at $310,434 over the last quarter. 1.60% of the stock is owned by corporate insiders.

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.