William Blair Investment Management LLC Grows Position in Seacoast Banking Corporation of Florida $SBCF

William Blair Investment Management LLC boosted its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 4.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,282,535 shares of the financial services provider’s stock after buying an additional 59,780 shares during the quarter. William Blair Investment Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $40,297,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of SBCF. Royal Bank of Canada lifted its position in Seacoast Banking Corporation of Florida by 41.5% during the first quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider’s stock valued at $2,777,000 after purchasing an additional 31,636 shares in the last quarter. AQR Capital Management LLC lifted its position in Seacoast Banking Corporation of Florida by 123.4% during the first quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock valued at $2,133,000 after purchasing an additional 45,792 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Seacoast Banking Corporation of Florida by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider’s stock valued at $1,293,000 after purchasing an additional 2,187 shares in the last quarter. Jane Street Group LLC purchased a new position in Seacoast Banking Corporation of Florida during the first quarter valued at $4,817,000. Finally, Cetera Investment Advisers lifted its position in Seacoast Banking Corporation of Florida by 4.2% during the second quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 513 shares in the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Price Performance

Shares of Seacoast Banking Corporation of Florida stock opened at $30.49 on Monday. The stock’s 50-day simple moving average is $30.85 and its 200-day simple moving average is $31.79. Seacoast Banking Corporation of Florida has a 52 week low of $24.04 and a 52 week high of $35.55. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 20.06 and a beta of 0.88. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.33.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $205.10 million for the quarter, compared to the consensus estimate 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 business’s revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. As a group, analysts expect that Seacoast Banking Corporation of Florida will post 2.49 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, June 15th. Seacoast Banking Corporation of Florida’s payout ratio is currently 50.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on SBCF. Piper Sandler lowered their price objective on Seacoast Banking Corporation of Florida from $33.50 to $32.50 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Wall Street Zen downgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Monday. Keefe, Bruyette & Woods boosted 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 report on Monday, February 2nd. Finally, 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. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Seacoast Banking Corporation of Florida currently has an average rating of “Moderate Buy” and an average price target of $33.13.

Insider Transactions at Seacoast Banking Corporation of Florida

In related 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 value 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph M. Forlenza sold 12,635 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $32.90, for a total value of $415,691.50. Following the completion of the sale, the executive vice president owned 42,392 shares in the company, valued at $1,394,696.80. This represents a 22.96% 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 38,554 shares of company stock valued at $1,221,865 over the last three months. Corporate 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.