Corient Private Wealth LLC Sells 17,385 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Corient Private Wealth LLC lessened its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 56.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,497 shares of the financial services provider's stock after selling 17,385 shares during the period. Corient Private Wealth LLC's holdings in Seacoast Banking Co. of Florida were worth $372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in Seacoast Banking Co. of Florida by 97.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 34,238 shares of the financial services provider's stock worth $912,000 after purchasing an additional 16,930 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 35.0% during the third quarter. Jane Street Group LLC now owns 105,808 shares of the financial services provider's stock worth $2,820,000 after buying an additional 27,403 shares in the last quarter. State Street Corp grew its holdings in shares of Seacoast Banking Co. of Florida by 0.7% during the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider's stock worth $112,978,000 after buying an additional 28,066 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Seacoast Banking Co. of Florida by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 849,811 shares of the financial services provider's stock valued at $22,647,000 after buying an additional 56,897 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in Seacoast Banking Co. of Florida by 14.6% in the 3rd quarter. Citigroup Inc. now owns 157,927 shares of the financial services provider's stock valued at $4,209,000 after acquiring an additional 20,122 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBCF has been the subject of several research reports. Stephens raised their price target 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. Raymond James reiterated an "outperform" rating and issued a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $30.00.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock traded down $2.22 during trading hours on Thursday, reaching $23.58. The stock had a trading volume of 787,823 shares, compared to its average volume of 414,998. The stock has a 50-day simple moving average of $27.37 and a 200 day simple moving average of $27.63. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68. The stock has a market capitalization of $2.02 billion, a PE ratio of 16.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85.

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 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%. Analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was 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.