Trust Point Inc. Has $339,000 Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Trust Point Inc. decreased its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 46.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,303 shares of the financial services provider’s stock after selling 10,600 shares during the quarter. Trust Point Inc.’s holdings in Seacoast Banking Co. of Florida were worth $339,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in Seacoast Banking Co. of Florida by 0.7% during the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock worth $112,978,000 after purchasing an additional 28,066 shares during the last quarter. Wellington Management Group LLP raised its position in Seacoast Banking Co. of Florida by 7.9% during the third quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock worth $111,144,000 after acquiring an additional 305,843 shares in the last quarter. Geode Capital Management LLC raised its position in Seacoast Banking Co. of Florida by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock worth $53,959,000 after acquiring an additional 23,396 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in Seacoast Banking Co. of Florida by 0.7% during the third quarter. Segall Bryant & Hamill LLC now owns 1,846,418 shares of the financial services provider’s stock worth $49,207,000 after acquiring an additional 13,567 shares in the last quarter. Finally, abrdn plc raised its position in Seacoast Banking Co. of Florida by 10.9% during the third quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock worth $29,914,000 after acquiring an additional 110,582 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the transaction, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This trade represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on SBCF shares. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Truist Financial dropped their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Stephens upped their price target on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Finally, Raymond James reissued an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and an average price target of $29.40.

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF opened at $29.16 on Thursday. The firm has a market capitalization of $2.49 billion, a PE ratio of 20.39 and a beta of 1.08. The company’s 50-day moving average is $27.89 and its 200-day moving average is $27.49. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. Equities analysts forecast that Seacoast Banking Co. of Florida will post 1.62 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is 50.35%.

About Seacoast Banking Co. of Florida

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.