Segall Bryant & Hamill LLC Has $52.40 Million Stake in Seacoast Banking Corporation of Florida $SBCF

Segall Bryant & Hamill LLC lowered its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 6.0% in the first quarter, HoldingsChannel.com reports. The firm owned 1,729,851 shares of the financial services provider’s stock after selling 109,764 shares during the quarter. Seacoast Banking Corporation of Florida comprises approximately 0.6% of Segall Bryant & Hamill LLC’s holdings, making the stock its 18th biggest holding. Segall Bryant & Hamill LLC’s holdings in Seacoast Banking Corporation of Florida were worth $52,397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in Seacoast Banking Corporation of Florida during the fourth quarter worth $26,000. Salomon & Ludwin LLC raised its holdings in shares of Seacoast Banking Corporation of Florida by 59.3% during the 4th quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after buying an additional 356 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the 3rd quarter worth $33,000. Advisory Services Network LLC bought a new stake in shares of Seacoast Banking Corporation of Florida during the 3rd quarter worth $45,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Seacoast Banking Corporation of Florida during the 4th quarter worth $50,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Piper Sandler increased their target price on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In other news, CEO Charles M. Shaffer sold 10,367 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $30.88, for a total transaction of $320,132.96. Following the sale, the chief executive officer directly owned 174,113 shares in the company, valued at approximately $5,376,609.44. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total value of $251,280.00. Following the sale, the director owned 220,854 shares in the company, valued at approximately $6,937,024.14. This trade represents a 3.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 29,919 shares of company stock worth $942,733. 1.50% of the stock is currently owned by insiders.

Seacoast Banking Corporation of Florida Stock Performance

NASDAQ SBCF opened at $34.74 on Friday. The firm’s fifty day moving average price is $32.15 and its two-hundred day moving average price is $31.97. The stock has a market cap of $3.38 billion, a PE ratio of 22.13 and a beta of 0.85. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.78 and a current ratio of 0.78. Seacoast Banking Corporation of Florida has a fifty-two week low of $27.22 and a fifty-two week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%.The company had revenue of $209.99 million during the quarter, compared to analysts’ expectations of $209.84 million. On average, equities analysts expect that Seacoast Banking Corporation of Florida will post 2.53 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.19 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.76 annualized dividend and a yield of 2.2%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 48.41%.

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.