Aptus Capital Advisors LLC increased its stake in Seacoast Banking Co. of Florida (NASDAQ: SBCF), as indicated in the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC) during the third quarter of this year. . Following the acquisition of an additional 5,775 shares of the shares held by the financial services provider during the period under review, the total number of shares held by the fund in the former corporation now stands at 99,833. Aptus Capital Advisors LLC had purchased Seacoast Banking Co. of Florida for approximately $3,018,000 at the end of the most recent fiscal quarter. This acquisition represented approximately 0.16% of the company’s total.
Several additional institutional investors have recently made changes to the proportion of company shares they hold in their respective institutions. During the third quarter, Victory Capital Management Inc. increased the number of shares in Florida’s Seacoast Banking Co. by 10.4%, bringing the total number of shares it owns to 58.4%. Victory Capital Management Inc. now has 21,199 shares, with a market capitalization of $641,000 after purchasing an additional 2,001 shares during the most recent quarter. The Oregon Public Employees Retirement Fund increased the number of Seacoast Banking Co. of Florida shares it owns by 6.9% during the third quarter. The Oregon Public Employees Retirement Fund now has 20,225 shares after purchasing an additional 1,303 shares during the previous quarter. These shares are worth $611,000 and are owned by the financial services provider. Great West Life Assurance Company of Canada increased the number of shares in Seacoast Banking Company of Florida by 21.6% during the third quarter. Great West Life Assurance Co. now owns a total of 73,266 shares of the stock held by the financial services provider. This is the result of the company’s purchase of an additional 13,016 shares during the most recent quarter. The shares are currently estimated to be worth $2,220,000. The New Jersey State Pension Pool D Fund increased the number of shares in Seacoast Banking Co. of Florida by 6.0 percentage points during the third quarter. Since the beginning of the third quarter, the New Jersey State Pool D Pension Fund has purchased an additional 4,115 shares of the company, bringing the total number of shares to 72,178. This gives the company an estimated $2,182,000 total market share. This brings us to our last and most important point: During the third quarter, Synovus Financial Corp. acquired an additional 2.0% equity interest in Seacoast Banking Co. of Florida. Synovus Financial Corp. now owns an additional 690 shares of the company’s stock after purchasing 35,358 shares for $1,073,000. This brings the total number of shares it has acquired to 690. Institutional investors and hedge funds jointly own 86.92% of the company’s total shares, constituting the majority of shareholders.
When trading began on Tuesday, the price of a SBCF share was $32.76. The company’s fifty-day moving averages currently sit at $32.27, and the last 200-day moving averages currently sit at $32.55. The lowest price Seacoast Banking Co. of Florida has been at in the past year is $29.05, while the company’s all-time highest price has been $39.31. The company’s market capitalization is currently $2.01 billion, its price-earnings ratio is 16.80, and its beta is 1.09. Each of the three financial ratios, the debt-to-equity ratio, the current ratio, and the quick ratio, come in at 0.06, for a total of 0.77.
Seacoast Banking Co. of Florida (NASDAQ: SBCF) announced on October 27 that it would release its fiscal year third quarter earnings report. The financial services company’s earnings were $0.47 per share in the quarter, which was $0.14 less than the median prediction made by analysts, who had forecast the company to earn $0.61 per share in the quarter. Florida Seacoast Banking Co. earned a return on equity of 9.80% and a net margin of 30.14%. The range of numbers that market analysts anticipated for the company’s quarterly revenue was between $105.57 million and $104.39 million. This range was between $105.57 million and $104.39 million. During the current fiscal year, Seacoast Banking Co. of Florida is expected to generate earnings of $1.47 per share, based on estimates provided by sell-side analysts.
Several different brokerage firms have offered their opinions and comments to SBCF. The “hold” rating that StockNews.com had previously assigned to Seacoast Banking Co. of Florida was downgraded to a “sell” rating in a research note published Oct. 31 by the company. The announcement was made by Hovde Group in a research note published on Friday, November 4 and stated that they would lower their price target on Seacoast Banking Co. of Florida to $34.00.
Seacoast Banking Corporation of Florida is the banking holding company for Seacoast National Bank, which provides commercial and retail banking services throughout Florida. Seacoast National Bank is a subsidiary of Seacoast Banking Corporation of Florida. Seacoast Banking Corporation of Florida owns both Seacoast National Bank and Seacoast Banking Corporation of Florida. It provides services to various financial industries, including mortgages, brokerage, commercial and retail banking, asset management, and annuity services.