Seacoast Banking Corporation of Florida (NASDAQ:SBCF – Get Free Report) EVP Juliette Kleffel sold 14,831 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $34.31, for a total value of $508,851.61. Following the sale, the executive vice president owned 78,321 shares of the company’s stock, valued at approximately $2,687,193.51. This represents a 15.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Seacoast Banking Corporation of Florida Trading Up 0.2%
Shares of NASDAQ:SBCF opened at $34.37 on Friday. The firm has a market capitalization of $3.33 billion, a P/E ratio of 21.89 and a beta of 0.85. Seacoast Banking Corporation of Florida has a 1 year low of $28.58 and a 1 year high of $36.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.78 and a quick ratio of 0.78. The business’s 50-day moving average is $33.91 and its 200 day moving average is $32.14.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $209.99 million during the quarter, compared to analysts’ expectations of $209.84 million. Seacoast Banking Corporation of Florida had a net margin of 15.11% and a return on equity of 8.68%. On average, research analysts predict that Seacoast Banking Corporation of Florida will post 2.55 earnings per share for the current fiscal year.
Seacoast Banking Corporation of Florida Announces Dividend
Analysts Set New Price Targets
Several analysts have commented on SBCF shares. Piper Sandler lifted their price objective on shares of Seacoast Banking Corporation of Florida from $34.00 to $35.50 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Finally, Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.50.
Read Our Latest Report on SBCF
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in Seacoast Banking Corporation of Florida by 41.5% in the 1st quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider’s stock worth $2,777,000 after acquiring an additional 31,636 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Seacoast Banking Corporation of Florida by 123.4% in the first quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock valued at $2,133,000 after purchasing an additional 45,792 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Seacoast Banking Corporation of Florida by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 2,187 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the 1st quarter worth about $4,817,000. Finally, Cetera Investment Advisers raised its position in shares of Seacoast Banking Corporation of Florida by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 513 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.
Seacoast Banking Corporation of Florida Company Profile
Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.
In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.
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