Teacher Retirement System of Texas Buys 1,644 Shares of Seacoast Banking Corporation of Florida $SBCF

Teacher Retirement System of Texas grew its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,570 shares of the financial services provider’s stock after purchasing an additional 1,644 shares during the period. Teacher Retirement System of Texas’ holdings in Seacoast Banking Corporation of Florida were worth $485,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. IFP Advisors Inc lifted its stake in shares of Seacoast Banking Corporation of Florida by 343.9% in the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock valued at $33,000 after buying an additional 994 shares during the period. GAMMA Investing LLC raised its holdings in Seacoast Banking Corporation of Florida by 21.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 366 shares in the last quarter. CWM LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 61.6% in the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 1,004 shares during the period. ZWJ Investment Counsel Inc. acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 2nd quarter worth approximately $242,000. Finally, MQS Management LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 1st quarter worth approximately $244,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Up 1.1%

SBCF opened at $30.91 on Monday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 18.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.84. The firm’s 50-day simple moving average is $30.72 and its 200-day simple moving average is $28.36. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $32.33.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. The firm had revenue of $83.85 million for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.93% and a return on equity of 7.16%. Equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. This is a positive change from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. Seacoast Banking Corporation of Florida’s payout ratio is 44.97%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SBCF shares. Keefe, Bruyette & Woods upped their target price on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, October 8th. Finally, Piper Sandler restated a “neutral” rating and set a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.50.

Seacoast Banking Corporation 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.