Texas Teachers’ Retirement System increases holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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Teacher Retirement System of Texas increased its position in shares of Seacoast Banking Co. of Florida (NASDAQ: SBCFGet a rating) by 11.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund held 11,932 shares of the financial services provider after acquiring 1,237 additional shares during the quarter. The Teacher Retirement System of Texas holdings in Seacoast Banking Co. of Florida were worth $418,000 when it last filed with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Maryland State Retirement & Pension System increased its equity stake in Seacoast Banking Co. of Florida by 1.5% in Q1. Maryland State Retirement & Pension System now owns 23,602 shares of the financial services provider valued at $827,000 after acquiring 340 additional shares last quarter. Mutual of America Capital Management LLC increased its equity stake in Seacoast Banking Co. of Florida by 5.7% in Q1. Mutual of America Capital Management LLC now owns 8,430 shares of the financial services provider valued at $295,000 after acquiring 458 additional shares last quarter. The Oregon Public Employees Retirement Fund increased its holdings of Seacoast Banking Co. of Florida shares by 2.5% during the 1st quarter. The Oregon Public Employees Retirement Fund now owns 21,922 shares of the financial services provider valued at $768,000 after acquiring 538 additional shares last quarter. AdvisorNet Financial Inc. increased its holdings of Seacoast Banking Co. of Florida stock by 14.2% in Q1. AdvisorNet Financial Inc now owns 5,350 shares of the financial services provider valued at $187,000 after acquiring an additional 665 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Seacoast Banking Co. of Florida by 5.5% during the 4th quarter. Victory Capital Management Inc. now owns 15,865 shares of the financial services provider valued at $561,000 after acquiring 826 additional shares in the last quarter. Institutional investors and hedge funds hold 79.87% of the company’s shares.

Seacoast Banking Co. of Florida Price Performance

SBCF opened at $33.44 on Thursday. The company has a 50-day moving average of $34.06 and a 200-day moving average of $34.35. The company has a market capitalization of $2.05 billion, a P/E ratio of 17.79 and a beta of 1.12. Seacoast Banking Co. of Florida has a 1-year minimum of $29.28 and a 1-year maximum of $39.31. The company has a debt ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79.

Seacoast Banking Co. of Florida (NASDAQ: SBCFGet a rating) last released its results on Thursday, July 28. The financial services provider reported earnings per share of $0.53 for the quarter, hitting the consensus estimate of $0.53. Seacoast Banking Co. of Florida had a net margin of 29.70% and a return on equity of 9.80%. In the same period a year earlier, the company posted earnings per share of $0.59. Stock analysts expect Seacoast Banking Co. of Florida to post EPS of 1.89 for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Investors of record on Thursday, September 15 will receive a dividend of $0.17 per share. This represents a dividend of $0.68 on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Wednesday, September 14. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 36.17%.

Analysts set new price targets

Several equity research analysts have recently released reports on the stock. B. Riley lowered his price target on shares of Seacoast Banking Co. of Florida from $36.00 to $34.00 in a Monday, July 11 research note. StockNews.com moved shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a Monday, Aug. 1 research note. Finally, Truist Financial lowered its price target on Seacoast Banking Co. of Florida stock from $42.00 to $39.00 and set a “buy” rating on the stock in a research note from the Wednesday, July 6. Three research analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.33.

Insider Activity at Seacoast Banking Co. of Florida

In related news, the director Dennis S. HudsonIII sold 2,542 shares of the company in a transaction dated Monday, August 15. The shares were sold at an average price of $35.48, for a total transaction of $90,190.16. Following the completion of the sale, the director now owns 169,698 shares of the company, valued at approximately $6,020,885.04. The sale was disclosed in a legal filing with the SEC, which is available via this link. Separately, director Dennis S. Hudson III sold 8,000 shares of the company in a transaction dated Monday, August 1. The shares were sold at an average price of $36.00, for a total transaction of $288,000.00. Following the completion of the sale, the director now owns 169,698 shares of the company, valued at approximately $6,109,128. The sale was disclosed in a legal filing with the SEC, which is available via this link. Additionally, director Dennis S. Hudson III sold 2,542 shares of the company in a trade dated Monday, August 15. The shares were sold at an average price of $35.48, for a total transaction of $90,190.16. Following the transaction, the administrator now directly owns 169,698 shares of the company, valued at $6,020,885.04. Disclosure of this sale can be found here. Insiders hold 2.00% of the shares of the company.

About Seacoast Banking Co. of Florida

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Seacoast Banking Corporation of Florida operates as a bank holding company for Seacoast National Bank which provides financial services to retail and commercial customers in Florida. It offers commercial and retail banking, wealth management and mortgages; and brokerage and annuity services.

Further reading

Want to see which other hedge funds hold SBCF? Visit HoldingsChannel.com to get the latest 13F deposits and insider trades for Seacoast Banking Co. of Florida (NASDAQ: SBCFGet a rating).

Institutional ownership by quarter for Seacoast Banking Co. of Florida (NASDAQ:SBCF)



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