Pembroke Management LTD Lowers Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Pembroke Management LTD reduced its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 613,353 shares of the financial services provider’s stock after selling 9,350 shares during the period. Seacoast Banking Co. of Florida accounts for 2.0% of Pembroke Management LTD’s portfolio, making the stock its 19th biggest holding. Pembroke Management LTD owned 1.00% of Seacoast Banking Co. of Florida worth $19,130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SBCF. Fairfield Bush & CO. purchased a new position in shares of Seacoast Banking Co. of Florida during the 1st quarter valued at about $60,000. JPMorgan Chase & Co. lifted its position in shares of Seacoast Banking Co. of Florida by 30.8% during the 1st quarter. JPMorgan Chase & Co. now owns 80,608 shares of the financial services provider’s stock valued at $2,823,000 after buying an additional 19,003 shares in the last quarter. Raymond James & Associates lifted its position in shares of Seacoast Banking Co. of Florida by 167.7% during the 1st quarter. Raymond James & Associates now owns 26,483 shares of the financial services provider’s stock valued at $927,000 after buying an additional 16,591 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 20.1% during the 1st quarter. American Century Companies Inc. now owns 14,501 shares of the financial services provider’s stock valued at $508,000 after buying an additional 2,424 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Seacoast Banking Co. of Florida by 22.0% during the 1st quarter. US Bancorp DE now owns 4,025 shares of the financial services provider’s stock valued at $141,000 after buying an additional 726 shares in the last quarter. 86.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SBCF shares. Raymond James boosted their price target on Seacoast Banking Co. of Florida from $34.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. Truist Financial lowered their price target on Seacoast Banking Co. of Florida from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, February 1st. Hovde Group raised Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a report on Friday. Finally, StockNews.com started coverage on Seacoast Banking Co. of Florida in a report on Thursday. They issued a “sell” rating on the stock.

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF traded down $1.02 during trading hours on Friday, reaching $25.20. The stock had a trading volume of 3,316,317 shares, compared to its average volume of 968,408. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. Seacoast Banking Co. of Florida has a 52 week low of $20.66 and a 52 week high of $36.92. The company has a 50 day moving average price of $30.77 and a two-hundred day moving average price of $31.42. The stock has a market capitalization of $2.13 billion, a PE ratio of 15.09 and a beta of 1.11.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Tuesday, March 14th. Seacoast Banking Co. of Florida’s payout ratio is 40.72%.

Insiders Place Their Bets

In other Seacoast Banking Co. of Florida news, EVP Juliette Kleffel sold 8,500 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $31.88, for a total value of $270,980.00. Following the sale, the executive vice president now owns 38,354 shares of the company’s stock, valued at approximately $1,222,725.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Seacoast Banking Co. of Florida news, EVP Juliette Kleffel sold 8,500 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $31.88, for a total value of $270,980.00. Following the sale, the executive vice president now owns 38,354 shares of the company’s stock, valued at approximately $1,222,725.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles M. Shaffer sold 4,697 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $30.71, for a total value of $144,244.87. Following the transaction, the chief executive officer now directly owns 60,891 shares in the company, valued at approximately $1,869,962.61. The disclosure for this sale can be found here. Insiders have sold a total of 21,275 shares of company stock valued at $681,880 in the last quarter. 2.00% of the stock is currently owned by insiders.

Seacoast Banking Co. of Florida Company Profile

(Get Rating)

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.