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

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its position in shares of Seacoast Banking Co. of Florida by 4.9% in the 3rd quarter. Victory Capital Management Inc. now owns 34,933 shares of the financial services provider's stock worth $931,000 after acquiring an additional 1,636 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 4.4% in the 3rd quarter. Natixis Advisors LLC now owns 34,843 shares of the financial services provider's stock valued at $929,000 after buying an additional 1,462 shares in the last quarter. Pathstone Holdings LLC grew its position in shares of Seacoast Banking Co. of Florida by 2.9% in the 3rd quarter. Pathstone Holdings LLC now owns 103,518 shares of the financial services provider's stock worth $2,759,000 after buying an additional 2,910 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 1.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 49,698 shares of the financial services provider's stock worth $1,324,000 after acquiring an additional 659 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in Seacoast Banking Co. of Florida by 176.6% during the third quarter. Intech Investment Management LLC now owns 30,767 shares of the financial services provider's stock valued at $820,000 after acquiring an additional 19,643 shares during the last quarter. Institutional investors own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF traded down $0.59 on Friday, hitting $25.49. 312,921 shares of the company's stock traded hands, compared to its average volume of 413,099. The firm has a market capitalization of $2.18 billion, a PE ratio of 17.83 and a beta of 1.09. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68. The firm's 50-day moving average price is $27.51 and its two-hundred day moving average price is $27.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 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%. As a group, analysts expect 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is 50.35%.

Analyst Ratings Changes

A number of equities research analysts have commented on SBCF shares. Stephens increased 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 research note on Monday, March 3rd. 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. Finally, Raymond James restated an "outperform" rating and set a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.