Seacoast Banking Corporation of Florida $SBCF Shares Sold by Aberdeen Group plc

Aberdeen Group plc decreased its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 12.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 867,371 shares of the financial services provider’s stock after selling 122,041 shares during the quarter. Aberdeen Group plc owned about 1.01% of Seacoast Banking Corporation of Florida worth $23,957,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 3,451.2% in the first quarter. GAMMA Investing LLC now owns 42,969 shares of the financial services provider’s stock worth $1,106,000 after acquiring an additional 41,759 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter worth $471,000. Handelsbanken Fonder AB increased its stake in shares of Seacoast Banking Corporation of Florida by 23.3% in the first quarter. Handelsbanken Fonder AB now owns 20,609 shares of the financial services provider’s stock worth $530,000 after acquiring an additional 3,900 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter worth $27,000. Finally, Illinois Municipal Retirement Fund increased its stake in shares of Seacoast Banking Corporation of Florida by 4.0% in the first quarter. Illinois Municipal Retirement Fund now owns 47,334 shares of the financial services provider’s stock worth $1,218,000 after acquiring an additional 1,826 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

SBCF opened at $30.57 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 18.75 and a beta of 0.94. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $32.33. The firm’s fifty day simple moving average is $30.27 and its two-hundred day simple moving average is $27.36.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Monday, February 14th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $83.85 million for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. Equities analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 44.17%.

Wall Street Analysts Forecast Growth

SBCF has been the topic of a number of research reports. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Raymond James Financial set a $33.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, October 8th. Zacks Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Seacoast Banking Corporation of Florida presently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

Seacoast Banking Corporation of Florida Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.