Seacoast Banking Co. of Florida (NASDAQ:SBCF) is Pier Capital LLC's 9th Largest Position

Pier Capital LLC grew its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 382,342 shares of the financial services provider's stock after buying an additional 12,383 shares during the quarter. Seacoast Banking Co. of Florida accounts for about 1.5% of Pier Capital LLC's investment portfolio, making the stock its 9th biggest position. Pier Capital LLC owned 0.45% of Seacoast Banking Co. of Florida worth $10,526,000 at the end of the most recent quarter.

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

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Seacoast Banking Co. of Florida Stock Down 2.3 %

NASDAQ:SBCF traded down $0.60 during mid-day trading on Friday, hitting $25.48. 107,451 shares of the company's stock traded hands, compared to its average volume of 411,914. The company has a market capitalization of $2.18 billion, a P/E ratio of 17.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day moving average of $27.54 and a 200 day moving average of $27.68. Seacoast Banking Co. of Florida has a twelve month low of $21.90 and a twelve month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

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. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.83%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is 50.35%.

Analyst Upgrades and Downgrades

SBCF has been the topic of a number of recent research reports. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research note on Wednesday, January 29th. Raymond James reaffirmed an "outperform" rating and set a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Finally, Stephens upped their price objective on 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Seacoast Banking Co. of Florida presently has a consensus rating of "Hold" and an average target price of $30.00.

Seacoast Banking Co. of Florida 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.