Salzhauer Michael Sells 4,000 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Salzhauer Michael cut its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,208 shares of the financial services provider’s stock after selling 4,000 shares during the period. Seacoast Banking Co. of Florida accounts for about 4.8% of Salzhauer Michael’s portfolio, making the stock its 5th largest position. Salzhauer Michael owned about 0.31% of Seacoast Banking Co. of Florida worth $6,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of SBCF. Charles Schwab Investment Management Inc. grew its stake in Seacoast Banking Co. of Florida by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 681,592 shares of the financial services provider’s stock valued at $19,398,000 after purchasing an additional 3,763 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Seacoast Banking Co. of Florida by 11.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,980,072 shares of the financial services provider’s stock valued at $84,814,000 after buying an additional 310,499 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Seacoast Banking Co. of Florida by 61.3% in the 4th quarter. Corient Private Wealth LLC now owns 38,004 shares of the financial services provider’s stock worth $1,082,000 after buying an additional 14,449 shares during the period. Franklin Resources Inc. raised its position in Seacoast Banking Co. of Florida by 20.6% during the 4th quarter. Franklin Resources Inc. now owns 2,047,145 shares of the financial services provider’s stock worth $58,262,000 after buying an additional 349,147 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at approximately $10,179,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Performance

SBCF opened at $27.11 on Monday. The stock has a market cap 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 current ratio of 0.86 and a quick ratio of 0.86. The firm has a fifty day moving average price of $26.54 and a 200 day moving average price of $24.65. 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 issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $201.99 million during the quarter, compared to the consensus estimate of $126.00 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.44 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBCF. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Truist Financial increased their price target on 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. Finally, Hovde Group lowered 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.88.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, Director Dennis S. Hudson III sold 16,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $27.00, for a total value of $432,000.00. Following the transaction, the director now owns 234,312 shares in the company, valued at approximately $6,326,424. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

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.