abrdn plc Sells 198,136 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

abrdn plc trimmed its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 17.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 924,342 shares of the financial services provider’s stock after selling 198,136 shares during the quarter. abrdn plc owned approximately 1.08% of Seacoast Banking Co. of Florida worth $25,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SBCF. Wellington Management Group LLP raised its position in shares of 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 during the last quarter. Tributary Capital Management LLC raised its position in shares of Seacoast Banking Co. of Florida by 44.4% during the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock worth $18,028,000 after acquiring an additional 201,494 shares during the last quarter. Barclays PLC raised its position in shares of Seacoast Banking Co. of Florida by 112.0% during the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider’s stock worth $4,754,000 after acquiring an additional 94,242 shares during the last quarter. Ceredex Value Advisors LLC raised its position in shares of Seacoast Banking Co. of Florida by 24.2% during the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock worth $12,551,000 after acquiring an additional 91,900 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Seacoast Banking Co. of Florida by 7.0% during the third quarter. Royce & Associates LP now owns 1,026,578 shares of the financial services provider’s stock worth $27,358,000 after acquiring an additional 67,567 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBCF. Raymond James restated an “outperform” rating and set 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. Stephens raised their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Truist Financial decreased their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Seacoast Banking Co. of Florida currently has an average rating of “Hold” and a consensus target price of $29.40.

Seacoast Banking Co. of Florida Trading Up 2.1 %

NASDAQ SBCF opened at $29.16 on Thursday. 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 has a one year low of $21.90 and a one year high of $31.68. The business has a 50 day simple moving average of $27.89 and a 200 day simple moving average of $27.49. The stock has a market capitalization of $2.49 billion, a P/E ratio of 20.39 and a beta of 1.08.

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

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.47%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 50.35%.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida Company Profile

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.