InterOcean Capital Group LLC Sells 11,000 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

InterOcean Capital Group LLC lowered its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 26.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,000 shares of the financial services provider’s stock after selling 11,000 shares during the quarter. InterOcean Capital Group LLC’s holdings in Seacoast Banking Co. of Florida were worth $882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Seacoast Banking Co. of Florida by 28.1% during the 3rd quarter. Victory Capital Management Inc. now owns 29,677 shares of the financial services provider’s stock valued at $652,000 after purchasing an additional 6,508 shares during the period. Illinois Municipal Retirement Fund bought a new stake in Seacoast Banking Co. of Florida during the 3rd quarter valued at approximately $1,076,000. abrdn plc raised its stake in Seacoast Banking Co. of Florida by 40.7% during the 3rd quarter. abrdn plc now owns 1,212,652 shares of the financial services provider’s stock valued at $26,630,000 after purchasing an additional 350,726 shares during the period. Great Lakes Advisors LLC raised its stake in Seacoast Banking Co. of Florida by 18.3% during the 3rd quarter. Great Lakes Advisors LLC now owns 233,439 shares of the financial services provider’s stock valued at $5,126,000 after purchasing an additional 36,115 shares during the period. Finally, Heartland Advisors Inc. raised its stake in Seacoast Banking Co. of Florida by 4.4% during the 3rd quarter. Heartland Advisors Inc. now owns 599,417 shares of the financial services provider’s stock valued at $14,531,000 after purchasing an additional 25,304 shares during the period. Institutional investors own 81.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SBCF shares. Raymond James lifted their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods reduced their price objective on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Hovde Group reduced their price objective on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Truist Financial reduced their price objective on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.10.

Seacoast Banking Co. of Florida Trading Down 0.3 %

Shares of Seacoast Banking Co. of Florida stock traded down $0.06 on Thursday, reaching $23.78. The company had a trading volume of 33,745 shares, compared to its average volume of 400,590. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 17.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50-day moving average price is $23.90 and its two-hundred day moving average price is $24.85. Seacoast Banking Co. of Florida has a 1 year low of $19.04 and a 1 year high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). Seacoast Banking Co. of Florida had a net margin of 15.08% and a return on equity of 5.68%. The business had revenue of $125.58 million for the quarter, compared to analysts’ expectations of $127.95 million. As a group, research analysts predict that Seacoast Banking Co. of Florida will post 1.4 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Friday, June 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 51.43%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, EVP James C. Stallings III sold 3,855 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.44, for a total transaction of $94,216.20. Following the transaction, the executive vice president now owns 3,961 shares in the company, valued at $96,806.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida 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.