Amundi Purchases 27,478 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Amundi lifted its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 184.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,360 shares of the financial services provider's stock after buying an additional 27,478 shares during the period. Amundi's holdings in Seacoast Banking Co. of Florida were worth $1,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 154.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock worth $31,000 after buying an additional 679 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC purchased a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $76,000. KBC Group NV lifted its stake in Seacoast Banking Co. of Florida by 30.0% in the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 768 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Seacoast Banking Co. of Florida in the third quarter valued at approximately $121,000. Hedge funds and other institutional investors own 81.77% of the company's stock.

Analyst Ratings Changes

SBCF has been the topic of several research analyst reports. Stephens upped their price objective on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. StockNews.com upgraded Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research note on Wednesday, January 29th. Finally, Raymond James reiterated an "outperform" rating and issued a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. 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 currently has an average rating of "Hold" and a consensus target price of $30.00.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock traded down $0.12 during midday trading on Friday, reaching $25.96. 1,159,249 shares of the company's stock traded hands, compared to its average volume of 391,254. The company has a 50-day moving average price of $27.55 and a two-hundred day moving average price of $27.69. 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 has a 52 week low of $21.90 and a 52 week high of $31.68. The firm has a market capitalization of $2.22 billion, a PE ratio of 18.15 and a beta of 1.09.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.77%. Seacoast Banking Co. of Florida's payout ratio is currently 50.35%.

Seacoast Banking Co. of Florida 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.