Omnia Family Wealth LLC Makes New Investment in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Omnia Family Wealth LLC bought a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 13,539 shares of the financial services provider’s stock, valued at approximately $385,000.

A number of other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of Seacoast Banking Co. of Florida by 31.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after purchasing an additional 1,106,724 shares during the period. abrdn plc grew its stake in shares of Seacoast Banking Co. of Florida by 40.7% during the 3rd quarter. abrdn plc now owns 1,212,652 shares of the financial services provider’s stock valued at $26,630,000 after acquiring an additional 350,726 shares during the period. Northern Trust Corp grew its stake in shares of Seacoast Banking Co. of Florida by 1.2% during the 3rd quarter. Northern Trust Corp now owns 877,742 shares of the financial services provider’s stock valued at $19,275,000 after acquiring an additional 10,205 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,829 shares of the financial services provider’s stock valued at $14,885,000 after acquiring an additional 39,183 shares during the period. Finally, Heartland Advisors Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 4.4% during the 3rd quarter. Heartland Advisors Inc. now owns 599,417 shares of the financial services provider’s stock valued at $14,531,000 after acquiring an additional 25,304 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Wall Street Analyst Weigh In

SBCF has been the subject of a number of recent research reports. Raymond James boosted their price objective on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Truist Financial dropped their price target on Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating for the company in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.63.

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF traded down $0.26 during mid-day trading on Friday, hitting $23.38. 547,139 shares of the stock were exchanged, compared to its average volume of 409,971. The company has a market cap of $1.99 billion, a PE ratio of 16.70 and a beta of 1.16. Seacoast Banking Co. of Florida has a 52-week low of $17.93 and a 52-week high of $29.98. The firm has a 50-day moving average of $24.02 and a two-hundred day moving average of $24.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $128.16 million for the quarter, compared to analysts’ expectations of $135.33 million. Seacoast Banking Co. of Florida had a return on equity of 5.71% and a net margin of 15.08%. On average, equities analysts predict that Seacoast Banking Co. of Florida will post 1.47 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.08%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 51.43%.

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.