Global Trust Asset Management LLC Sells 30,237 Shares of Seacoast Banking Corporation of Florida $SBCF

Global Trust Asset Management LLC lowered its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 64.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,796 shares of the financial services provider’s stock after selling 30,237 shares during the period. Global Trust Asset Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Seacoast Banking Corporation of Florida by 58.6% during the 3rd quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock valued at $166,825,000 after acquiring an additional 2,025,988 shares during the period. North Reef Capital Management LP raised its holdings in shares of Seacoast Banking Corporation of Florida by 16.8% in the 4th quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock valued at $183,244,000 after acquiring an additional 837,075 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Seacoast Banking Corporation of Florida by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock valued at $222,732,000 after acquiring an additional 705,554 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Seacoast Banking Corporation of Florida during the 3rd quarter valued at about $14,865,000. Finally, Ameriprise Financial Inc. lifted its position in Seacoast Banking Corporation of Florida by 78.1% during the third quarter. Ameriprise Financial Inc. now owns 679,218 shares of the financial services provider’s stock valued at $20,669,000 after purchasing an additional 297,892 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.

Insider Activity at Seacoast Banking Corporation of Florida

In related news, EVP James C. Stallings III sold 7,552 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $31.16, for a total value of $235,320.32. Following the completion of the sale, the executive vice president directly owned 7,247 shares of the company’s stock, valued at approximately $225,816.52. This represents a 51.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dennis S. Hudson III sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total transaction of $251,280.00. Following the sale, the director owned 220,854 shares in the company, valued at approximately $6,937,024.14. The trade was a 3.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 25,919 shares of company stock worth $806,733. 1.50% of the stock is owned by company insiders.

Seacoast Banking Corporation of Florida Trading Up 0.5%

Seacoast Banking Corporation of Florida stock opened at $33.25 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.78 and a quick ratio of 0.78. Seacoast Banking Corporation of Florida has a one year low of $27.13 and a one year high of $35.55. The stock has a market capitalization of $3.23 billion, a PE ratio of 21.88 and a beta of 0.86. The business’s fifty day moving average is $31.04 and its 200 day moving average is $31.78.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $205.10 million during 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 quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. On average, sell-side analysts predict that Seacoast Banking Corporation of Florida will post 2.51 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 15th. Seacoast Banking Corporation of Florida’s payout ratio is presently 50.00%.

Wall Street Analysts Forecast Growth

SBCF has been the subject of several research reports. Piper Sandler upped their target price on Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, June 22nd. Weiss Ratings cut Seacoast Banking Corporation of Florida from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of “Hold” and an average price target of $35.00.

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.