Wellington Management Takes 5.0% Stake in Seacoast Banking Corp

TL;DR

**Wellington Management just revealed a 5.0% stake in Seacoast Banking, a bullish signal for the stock.**

AI Summary

Wellington Management Group LLP, a major investment firm based in Massachusetts, reported on February 8, 2024, that it holds 5.0% of the Common Stock of Seacoast Banking Corporation of Florida (NASDAQ: SBCF). This filing, triggered by an event on December 29, 2023, indicates Wellington's significant, but passive, stake in the bank. This matters to investors because it signals a large institutional investor's confidence in SBCF, potentially providing a floor for the stock price and attracting other institutional interest.

Why It Matters

A substantial stake by a major institutional investor like Wellington Management Group LLP can signal confidence in Seacoast Banking Corporation of Florida's future, potentially stabilizing its stock price and attracting further investment.

Risk Assessment

Risk Level: low — This filing indicates a passive, significant institutional investment, which generally reduces rather than increases risk for existing shareholders.

Analyst Insight

A smart investor would view this as a positive signal, suggesting that a reputable institutional investor sees value in Seacoast Banking Corporation of Florida. It might warrant further research into SBCF's fundamentals, especially if considering a long position.

Key Numbers

• 5.0% — Percentage of Class Owned (Wellington Management Group LLP's ownership stake in Seacoast Banking Corporation of Florida)
• 811707801 — CUSIP Number (Identifier for Seacoast Banking Corporation of Florida's Common Stock)

Key Players & Entities

• Wellington Management Group LLP (company) — the reporting person and institutional investor
• Seacoast Banking Corporation of Florida (company) — the issuer of the securities
• Massachusetts (person) — place of organization for Wellington Management Group LLP
• December 29, 2023 (person) — date of event requiring the filing
• February 8, 2024 (person) — date the filing was made

Forward-Looking Statements

• Seacoast Banking Corporation of Florida's stock price will see increased stability due to institutional backing. (Seacoast Banking Corporation of Florida) — medium confidence, target: next 6 months
• Other institutional investors may initiate or increase positions in Seacoast Banking Corporation of Florida. (Seacoast Banking Corporation of Florida) — low confidence, target: next 3 months

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G) — 31KB
• 0000902219-24-000204.txt ( ) — 32KB

From the Filing

SC 13G 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. _ ) * Seacoast Banking Corporation of Florida (Name of Issuer) Common Stock (Title of Class of Securities) 811707801 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 811707801 1. NAMES OF REPORTING PERSONS Wellington Management Group LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,436,175 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,551,911 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,551,911 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.35% 12. TYPE OF REPORTING PERSON HC CUSIP No. 811707801 1. NAMES OF REPORTING PERSONS Wellington Group Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,436,175 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,551,911 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,551,911 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.35% 12. TYPE OF REPORTING PERSON HC CUSIP No. 811707801 1. NAMES OF REPORTING PERSONS Wellington Investment Advisors Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 3,436,175 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,551,911 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,551,911 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.35% 12. TYPE OF REPORTING PERSON HC Item 1. (a) Name of Issuer Seacoast Banking Corporation of Florida (b) Address of Issuer's Principal Executive Offices 815 Colorado Avenue Stuart, FL 34995 Item 2. (a) Name of Person Filing Wellington Management Group LLP Wellington Group Holdings LLP Wellington Investment Advisors Holdings LLP (b) Address of Principal Business Office or, if None, Residence c/o Wellington Management Company LLP 280 Congress Street Boston, MA 02210 (c) Citizenship Wellington Management Group LLP - Massachusetts Wellington Group Holdings LLP - Delaware Wellington Investment Advisors Holdings LLP - Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 811707801 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [ ] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Gro

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View this SC 13G filing on SEC EDGAR