Dakota Wealth Management has $249,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

VaselineAugust 21, 2024

0 4 minutes read

Dakota Wealth Management increased its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF – Free Report) by 16.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,515 shares of the financial services provider’s stock after acquiring an additional 1,507 shares during the quarter. Dakota Wealth Management’s holdings in Seacoast Banking Co. in Florida were worth $249,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SBCF. Sei Investments Co. increased its holdings in shares of Seacoast Banking Co. of Florida by 63.8% in the first quarter. Sei Investments Co. now owns 205,996 shares of the financial services provider’s stock worth $5,230,000 after purchasing an additional 80,220 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Seacoast Banking Co. of Florida in the first quarter worth about $1,325,000. William Blair Investment Management LLC raised its holdings in shares of Seacoast Banking Co. of Florida by 24.0% in the first quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock worth $29,710,000 after purchasing an additional 226,132 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Seacoast Banking Co. of Florida by 70.9% in the fourth quarter. Russell Investments Group Ltd. now owns 375,529 shares of the financial services provider’s stock valued at $10,688,000 after buying an additional 155,776 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Seacoast Banking Co. of Florida by 10.2% during the 4th quarter. Schroder Investment Management Group now owns 551,327 shares of the financial services provider’s stock worth $15,691,000 after acquiring an additional 50,902 shares during the last quarter. 81.77% of the shares are currently owned by institutional investors and hedge funds.

Shares of Seacoast Banking Co. of Florida rose 0.1%

Shares of SBCF traded up $0.02 during trading on Wednesday, reaching $25.69. The stock had a trading volume of 9,612 shares, compared to its average volume of 418,023. Seacoast Banking Co. of Florida has a one year low of $19.04 and a one year high of $29.98. The company’s 50-day moving average is $25.13, and its two-hundred-day moving average is $24.34. The company has a quick ratio of 0.86, a current ratio of 0.86, and a debt-to-equity ratio of 0.13. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 18.29 and a beta of 1.10.

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Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Free Report ) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. The firm had revenue of $201.99 million during the quarter, compared to the consensus estimate of $126.00 million. In the same quarter last year, the company earned $0.37 EPS. Equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.44 EPS for the current year.

Seacoast Banking Co. of Florida announces dividends

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.18 dividend. This represents an annualized dividend of $0.72 and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, September 13. Seacoast Banking Co’s Dividend Payout Ratio (DPR). of Florida is currently 51.43%.

Analysts on Wall Street are forecasting an increase

A number of equities research analysts have covered the company. Hovde Group downgraded Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $29.00 to $31.00 in a report on Monday, July 29th. Truist Financial boosted their price target on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a report Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.50.

See Seacoast Banking Co.’s latest stock report. of Florida

Insider activity at Seacoast Banking Co. from Florida

In other news, Director Dennis S. Hudson III sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $27.00, for a total value of $432,000.00. Following the completion of the transaction, the director now directly owns 234,312 shares in the company, valued at $6,326,424. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 1.50% of shares are currently owned by corporate insiders.

Seacoast Banking Co Profile from Florida

(Free Report)

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank, which provides integrated financial services to retail and commercial customers in Florida. The Company offers interest-free and interest-bearing demand deposit, money market, savings and customer checking accounts; term deposit certificates; construction and land development, commercial and residential real estate, and commercial and financial lending; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.