248,830 Shares in Seacoast Banking Co. of Florida (NASDAQ:SBCF) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 248,830 shares of the financial services provider's stock, valued at approximately $6,850,000. Raymond James Financial Inc. owned approximately 0.29% of Seacoast Banking Co. of Florida as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Seacoast Banking Co. of Florida by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider's stock valued at $111,144,000 after buying an additional 305,843 shares during the period. Tributary Capital Management LLC grew its stake in Seacoast Banking Co. of Florida by 44.4% in the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider's stock valued at $18,028,000 after acquiring an additional 201,494 shares during the period. Barclays PLC increased its holdings in shares of Seacoast Banking Co. of Florida by 112.0% during the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider's stock valued at $4,754,000 after acquiring an additional 94,242 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Seacoast Banking Co. of Florida by 7.2% during 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 purchasing an additional 56,897 shares during the period. Finally, Townsquare Capital LLC bought a new position in shares of Seacoast Banking Co. of Florida in the 3rd quarter worth $1,132,000. 81.77% of the stock is owned by institutional investors.

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Seacoast Banking Co. of Florida Stock Performance

NASDAQ:SBCF traded down $0.12 during trading on Thursday, reaching $26.08. The company's stock had a trading volume of 394,619 shares, compared to its average volume of 389,735. Seacoast Banking Co. of Florida has a 12 month low of $21.90 and a 12 month high of $31.68. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 18.24 and a beta of 1.09. The firm has a 50 day moving average of $27.55 and a 200-day moving average of $27.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85.

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 earnings per share 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%. Research analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.76%. Seacoast Banking Co. of Florida's payout ratio is currently 50.35%.

Analyst Ratings Changes

A number of brokerages have commented on SBCF. 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. Stephens upped their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Finally, Raymond James reiterated 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida currently has an average rating of "Hold" and a consensus price target of $30.00.

About Seacoast Banking Co. of Florida

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.