JPMorgan Chase & Co. Purchases 439,346 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

JPMorgan Chase & Co. boosted its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 182.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 680,337 shares of the financial services provider's stock after purchasing an additional 439,346 shares during the quarter. JPMorgan Chase & Co. owned about 0.80% of Seacoast Banking Co. of Florida worth $18,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its position in 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 valued at $112,978,000 after purchasing an additional 28,066 shares in the last quarter. Geode Capital Management LLC grew its position in Seacoast Banking Co. of Florida by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider's stock valued at $53,959,000 after acquiring an additional 23,396 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Seacoast Banking Co. of Florida by 0.6% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider's stock worth $51,156,000 after acquiring an additional 11,765 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,160,182 shares of the financial services provider's stock valued at $31,940,000 after purchasing an additional 27,825 shares in the last quarter. Finally, Royce & Associates LP raised its position in Seacoast Banking Co. of Florida by 5.0% in the 4th quarter. Royce & Associates LP now owns 1,077,396 shares of the financial services provider's stock worth $29,661,000 after purchasing an additional 50,818 shares during the period. Hedge funds and other institutional investors own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ:SBCF traded down $0.09 during midday trading on Wednesday, reaching $22.45. 22,883 shares of the company were exchanged, compared to its average volume of 423,006. 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 stock has a market cap of $1.92 billion, a PE ratio of 15.66 and a beta of 0.97. The business's fifty day moving average is $26.24 and its two-hundred day moving average is $27.32. Seacoast Banking Co. of Florida has a one year low of $21.36 and a one 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 analysts' consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. As a group, analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida's payout ratio is 50.35%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBCF. Raymond James restated an "outperform" rating and set a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. StockNews.com raised shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a report on Friday, April 11th. Finally, Stephens increased their price objective on 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $30.00.

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.