Franklin Resources Inc. cut its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,503,707 shares of the financial services provider's stock after selling 77,884 shares during the quarter. Franklin Resources Inc. owned 2.93% of Seacoast Banking Co. of Florida worth $68,927,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its position in Seacoast Banking Co. of Florida by 3.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider's stock worth $318,000 after purchasing an additional 380 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Seacoast Banking Co. of Florida by 6.0% in the 4th quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider's stock worth $231,000 after acquiring an additional 478 shares during the period. Victory Capital Management Inc. increased its holdings in Seacoast Banking Co. of Florida by 1.7% in the 4th quarter. Victory Capital Management Inc. now owns 35,518 shares of the financial services provider's stock valued at $978,000 after buying an additional 585 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Seacoast Banking Co. of Florida by 154.0% during the fourth 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 in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Seacoast Banking Co. of Florida by 0.3% during the fourth quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider's stock valued at $7,048,000 after acquiring an additional 717 shares during the period. Institutional investors own 81.77% of the company's stock.
Seacoast Banking Co. of Florida Trading Up 2.0 %
SBCF stock traded up $0.46 during midday trading on Tuesday, hitting $23.02. The stock had a trading volume of 130,901 shares, compared to its average volume of 416,957. The firm has a market cap of $1.97 billion, a P/E ratio of 16.12 and a beta of 0.97. The business has a fifty day moving average price of $27.19 and a two-hundred day moving average price of $27.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 1-year low of $21.64 and a 1-year high of $31.68.
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 EPS for the quarter, topping 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%. On average, sell-side analysts predict 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 company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.13%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida's dividend payout ratio is presently 50.35%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on SBCF. Raymond James restated 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 report on Wednesday, January 29th. StockNews.com lowered Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research report on Thursday, April 3rd. Finally, Stephens boosted their price target on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $30.00.
Check Out Our Latest Stock Analysis 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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