Salzhauer Michael Cuts Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Salzhauer Michael reduced its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,681 shares of the financial services provider’s stock after selling 18,000 shares during the quarter. Seacoast Banking Co. of Florida comprises approximately 1.9% of Salzhauer Michael’s holdings, making the stock its 10th largest position. Salzhauer Michael owned 0.24% of Seacoast Banking Co. of Florida worth $5,690,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBCF. Hantz Financial Services Inc. raised its stake in Seacoast Banking Co. of Florida by 0.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 51,132 shares of the financial services provider’s stock valued at $1,363,000 after acquiring an additional 383 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Seacoast Banking Co. of Florida by 73.4% in the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 412 shares during the period. Trust Point Inc. lifted its holdings in Seacoast Banking Co. of Florida by 2.8% in the third quarter. Trust Point Inc. now owns 22,903 shares of the financial services provider’s stock worth $610,000 after purchasing an additional 617 shares during the period. PNC Financial Services Group Inc. grew its position in Seacoast Banking Co. of Florida by 1.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 49,698 shares of the financial services provider’s stock valued at $1,324,000 after buying an additional 659 shares in the last quarter. Finally, KBC Group NV increased its stake in Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after buying an additional 768 shares during the period. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock opened at $29.09 on Monday. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68. The firm’s 50 day simple moving average is $27.85 and its 200-day simple moving average is $27.50. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $2.49 billion, a P/E ratio of 20.34 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate 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%. As a group, equities research analysts predict that Seacoast Banking Co. of Florida will post 1.67 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed 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 2.48%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida’s payout ratio is presently 50.35%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SBCF. Raymond James reiterated an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Stephens boosted their price objective 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. 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida currently has an average rating of “Hold” and a consensus price target of $29.40.

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.