Bank of New York Mellon Corp Sells 151,564 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Bank of New York Mellon Corp reduced its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 7.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,903,066 shares of the financial services provider's stock after selling 151,564 shares during the quarter. Bank of New York Mellon Corp owned about 2.23% of Seacoast Banking Co. of Florida worth $52,391,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. raised its stake in Seacoast Banking Co. of Florida by 0.8% in the third quarter. Hantz Financial Services Inc. now owns 51,132 shares of the financial services provider's stock valued at $1,363,000 after purchasing an additional 383 shares in the last quarter. CIBC Asset Management Inc raised its stake in Seacoast Banking Co. of Florida by 6.0% in the fourth quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 478 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 1.3% during the third quarter. PNC Financial Services Group Inc. now owns 49,698 shares of the financial services provider's stock worth $1,324,000 after acquiring an additional 659 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Seacoast Banking Co. of Florida by 0.3% in the fourth quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider's stock worth $7,048,000 after buying an additional 717 shares during the period. Finally, KBC Group NV increased its stake in shares of 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 worth $89,000 after buying an additional 768 shares during the period. 81.77% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several research analysts recently commented on SBCF shares. Stephens lifted their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a report on Wednesday, January 29th. Finally, Raymond James reiterated an "outperform" rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of "Hold" and a consensus price target of $30.00.

Seacoast Banking Co. of Florida Stock Down 0.9 %

Shares of SBCF stock traded down $0.24 during mid-day trading on Friday, reaching $26.28. 680,904 shares of the company's stock traded hands, compared to its average volume of 405,336. Seacoast Banking Co. of Florida has a 12 month low of $21.90 and a 12 month high of $31.68. The company has a market cap of $2.25 billion, a P/E ratio of 18.38 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The company's 50-day moving average price is $27.74 and its 200-day moving average price is $27.76.

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 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%. On average, equities analysts expect that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is presently 50.35%.

About Seacoast Banking Co. of Florida

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.