Seacoast Banking Co. of Florida (NASDAQ:SBCF) is Salzhauer Michael’s 5th Largest Position

Salzhauer Michael lessened its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 262,208 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Seacoast Banking Co. of Florida comprises about 4.8% of Salzhauer Michael’s holdings, making the stock its 5th largest position. Salzhauer Michael’s holdings in Seacoast Banking Co. of Florida were worth $6,199,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in Seacoast Banking Co. of Florida in the second quarter valued at $55,000. Janney Montgomery Scott LLC lifted its position in Seacoast Banking Co. of Florida by 6.0% in the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after buying an additional 460 shares during the last quarter. Dakota Wealth Management boosted its stake in Seacoast Banking Co. of Florida by 16.7% during the second quarter. Dakota Wealth Management now owns 10,515 shares of the financial services provider’s stock worth $249,000 after buying an additional 1,507 shares during the period. SG Americas Securities LLC purchased a new position in Seacoast Banking Co. of Florida during the first quarter worth about $263,000. Finally, Pitcairn Co. increased its position in shares of Seacoast Banking Co. of Florida by 8.2% during the first quarter. Pitcairn Co. now owns 11,076 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 839 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBCF has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Finally, Hovde Group cut Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $29.00 to $31.00 in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.88.

Insiders Place Their Bets

In other news, Director Dennis S. Hudson III sold 16,000 shares of Seacoast Banking Co. of Florida stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the completion of the transaction, the director now owns 234,312 shares in the company, valued at approximately $6,326,424. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by company insiders.

Seacoast Banking Co. of Florida Trading Up 3.0 %

Shares of SBCF stock opened at $27.11 on Monday. Seacoast Banking Co. of Florida has a fifty-two week low of $19.04 and a fifty-two week high of $29.98. The company has a 50 day moving average price of $26.54 and a 200 day moving average price of $24.65. The stock has a market capitalization of $2.30 billion, a P/E ratio of 19.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. The company had revenue of $201.99 million during the quarter, compared to analysts’ expectations of $126.00 million. During the same quarter last year, the company posted $0.37 EPS. Equities research analysts predict that Seacoast Banking Co. of Florida will post 1.44 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.72 annualized dividend and a yield of 2.66%. Seacoast Banking Co. of Florida’s payout ratio is 51.43%.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.