Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Bought by Synovus Financial Corp

Synovus Financial Corp lifted its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,696 shares of the financial services provider’s stock after acquiring an additional 2,396 shares during the quarter. Synovus Financial Corp’s holdings in Seacoast Banking Co. of Florida were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC raised its position in Seacoast Banking Co. of Florida by 24.2% in the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock valued at $12,551,000 after purchasing an additional 91,900 shares during the period. F M Investments LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the 2nd quarter valued at about $7,601,000. BNP Paribas Financial Markets lifted its position in Seacoast Banking Co. of Florida by 97.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,238 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 16,930 shares in the last quarter. Pier Capital LLC boosted its holdings in Seacoast Banking Co. of Florida by 16.5% in the 2nd quarter. Pier Capital LLC now owns 368,839 shares of the financial services provider’s stock worth $8,719,000 after acquiring an additional 52,287 shares during the period. Finally, Curi RMB Capital LLC grew its position in Seacoast Banking Co. of Florida by 5.0% in the third quarter. Curi RMB Capital LLC now owns 544,914 shares of the financial services provider’s stock valued at $14,522,000 after acquiring an additional 26,121 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on SBCF. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Stephens boosted their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, October 28th. Finally, Truist Financial lowered 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.70.

Insider Transactions at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the company’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 transaction of $645,301.80. Following the sale, the chief executive officer now directly owns 126,232 shares of the company’s stock, valued at approximately $3,832,403.52. This represents a 14.41 % decrease in their position. The transaction 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 Stock Up 1.0 %

Shares of NASDAQ:SBCF opened at $29.17 on Tuesday. The firm has a market cap of $2.49 billion, a PE ratio of 21.14 and a beta of 1.08. The company has a fifty day simple moving average of $28.57 and a 200 day simple moving average of $26.60. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company had revenue of $130.30 million during the quarter, compared to the consensus estimate of $129.20 million. During the same quarter in the previous year, the firm earned $0.37 EPS. The company’s revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.41 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued 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, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 52.17%.

Seacoast Banking Co. of Florida 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.