Charles Schwab Investment Management Inc. increased its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 903,477 shares of the financial services provider's stock after buying an additional 53,666 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.06% of Seacoast Banking Co. of Florida worth $24,873,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 154.0% in the fourth 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 during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC purchased a new position in Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $76,000. KBC Group NV lifted its holdings in Seacoast Banking Co. of Florida by 30.0% during 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 in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Seacoast Banking Co. of Florida during the third quarter valued at approximately $121,000. Hedge funds and other institutional investors own 81.77% of the company's stock.
Seacoast Banking Co. of Florida Stock Performance
NASDAQ:SBCF traded down $0.12 during midday trading on Friday, hitting $25.96. The company's stock had a trading volume of 1,159,249 shares, compared to its average volume of 391,254. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68. The firm's 50 day moving average is $27.55 and its 200-day moving average is $27.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $2.22 billion, a P/E ratio of 18.15 and a beta of 1.09.
Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.
Seacoast Banking Co. of Florida Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida's dividend payout ratio is currently 50.35%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on SBCF. Stephens lifted their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Raymond James reissued an "outperform" rating and set a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Finally, StockNews.com raised shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating 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 MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.00.
Check Out Our Latest Research Report on Seacoast Banking Co. of Florida
About Seacoast Banking Co. of Florida
(
Free Report)
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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