Envestnet Asset Management Inc. Has $3.91 Million Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Envestnet Asset Management Inc. raised its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,840 shares of the financial services provider's stock after buying an additional 19,578 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Seacoast Banking Co. of Florida worth $3,905,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted 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 valued at $31,000 after purchasing an additional 679 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth $34,000. Venturi Wealth Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth $76,000. KBC Group NV grew its stake in shares of Seacoast Banking Co. of Florida by 33.7% during the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock worth $122,000 after purchasing an additional 1,121 shares during the period. Finally, Inceptionr LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth $200,000. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock traded down $0.19 during midday trading on Tuesday, reaching $23.49. The company's stock had a trading volume of 37,572 shares, compared to its average volume of 422,838. Seacoast Banking Co. of Florida has a 52 week low of $21.36 and a 52 week high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $25.15 and a 200-day moving average price of $27.16. The stock has a market cap of $2.01 billion, a PE ratio of 16.40 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio is currently 48.32%.

Analyst Ratings Changes

A number of equities research analysts recently commented on SBCF shares. StockNews.com cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Friday. Stephens decreased their price objective on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Monday. Finally, Raymond James reiterated an "outperform" rating and issued a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of "Hold" and a consensus price target of $29.40.

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.