Raymond James Financial Inc. acquired a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 248,830 shares of the financial services provider's stock, valued at approximately $6,850,000. Raymond James Financial Inc. owned about 0.29% of Seacoast Banking Co. of Florida as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in Seacoast Banking Co. of Florida by 154.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock worth $31,000 after purchasing an additional 679 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC acquired a new stake in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $76,000. KBC Group NV grew its stake in Seacoast Banking Co. of Florida by 33.7% in the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock valued at $122,000 after acquiring an additional 1,121 shares during the period. Finally, Inceptionr LLC purchased a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $200,000. Institutional investors own 81.77% of the company's stock.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. StockNews.com cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research report on Friday. Raymond James reiterated an "outperform" rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Finally, Stephens cut their price objective on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.40.
Read Our Latest Stock Analysis on SBCF
Seacoast Banking Co. of Florida Stock Down 0.8 %
Shares of SBCF stock traded down $0.20 during mid-day trading on Tuesday, reaching $23.48. 41,923 shares of the company's stock traded hands, compared to its average volume of 422,839. Seacoast Banking Co. of Florida has a 12 month low of $21.36 and a 12 month high of $31.68. The company has a market cap of $2.01 billion, a P/E ratio of 16.42 and a beta of 0.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The company's 50-day moving average price is $25.15 and its 200-day moving average price is $27.16.
Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The firm had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The company's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts expect that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.
Seacoast Banking Co. of Florida Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio is currently 48.32%.
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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