96,041 Shares in Seacoast Banking Corporation of Florida $SBCF Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 96,041 shares of the financial services provider’s stock, valued at approximately $3,193,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in shares of Seacoast Banking Corporation of Florida in the fourth quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the third quarter worth about $33,000. Advisory Services Network LLC bought a new stake in Seacoast Banking Corporation of Florida during the 3rd quarter valued at approximately $45,000. Kestra Advisory Services LLC bought a new stake in Seacoast Banking Corporation of Florida during the 4th quarter valued at approximately $50,000. Finally, Versant Capital Management Inc lifted its holdings in Seacoast Banking Corporation of Florida by 203.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,772 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,189 shares in the last quarter. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Corporation of Florida Price Performance

Shares of Seacoast Banking Corporation of Florida stock opened at $34.60 on Friday. The firm has a market cap of $3.35 billion, a PE ratio of 22.04 and a beta of 0.84. The stock has a 50 day moving average of $34.09 and a 200 day moving average of $32.15. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.35. Seacoast Banking Corporation of Florida has a 12 month low of $28.58 and a 12 month high of $36.27.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $209.99 million for the quarter, compared to analysts’ expectations of $209.84 million. Seacoast Banking Corporation of Florida had a return on equity of 8.68% and a net margin of 15.11%. On average, research analysts expect that Seacoast Banking Corporation of Florida will post 2.55 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

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

Insiders Place Their Bets

In other Seacoast Banking Corporation of Florida news, Director Dennis Hudson, III sold 4,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $34.00, for a total transaction of $136,000.00. Following the completion of the transaction, the director owned 216,854 shares in the company, valued at $7,373,036. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Juliette Kleffel sold 14,831 shares of Seacoast Banking Corporation of Florida stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $34.31, for a total transaction of $508,851.61. Following the completion of the transaction, the executive vice president directly owned 78,321 shares of the company’s stock, valued at $2,687,193.51. The trade was a 15.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 26,831 shares of company stock worth $896,132. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

SBCF has been the subject of several recent analyst reports. Piper Sandler upped their price target on Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida has a consensus rating of “Moderate Buy” and an average target price of $35.50.

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.