21,157 Shares in Seacoast Banking Co. of Florida (NASDAQ:SBCF) Bought by AlphaQuest LLC

AlphaQuest LLC bought a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,157 shares of the financial services provider's stock, valued at approximately $582,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. State Street Corp now owns 4,239,308 shares of the financial services provider's stock worth $112,978,000 after purchasing an additional 28,066 shares during the period. Wellington Management Group LLP lifted its position in Seacoast Banking Co. of Florida by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider's stock worth $111,144,000 after buying an additional 305,843 shares in the last quarter. Geode Capital Management LLC lifted its position in Seacoast Banking Co. of Florida by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider's stock worth $53,959,000 after buying an additional 23,396 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in Seacoast Banking Co. of Florida by 0.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,846,418 shares of the financial services provider's stock worth $49,207,000 after buying an additional 13,567 shares in the last quarter. Finally, Royce & Associates LP lifted its position in Seacoast Banking Co. of Florida by 7.0% during the 3rd quarter. Royce & Associates LP now owns 1,026,578 shares of the financial services provider's stock worth $27,358,000 after buying an additional 67,567 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBCF has been the topic of several analyst reports. StockNews.com raised shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research report on Wednesday, January 29th. Raymond James reissued an "outperform" rating and set a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Finally, Stephens upped their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $30.00.

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Seacoast Banking Co. of Florida Stock Down 0.4 %

Shares of SBCF opened at $25.31 on Wednesday. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The firm has a market cap of $2.17 billion, a P/E ratio of 17.70 and a beta of 1.09. The firm's 50-day simple moving average is $27.71 and its 200 day simple moving average is $27.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. On average, analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.84%. Seacoast Banking Co. of Florida's payout ratio is presently 50.35%.

Seacoast Banking Co. of Florida Company Profile

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.

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