Seacoast Banking Co. of Florida (NASDAQ:SBCF) Reaches New 52-Week Low - Should You Sell?

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $20.00 and last traded at $24.27, with a volume of 204 shares changing hands. The stock had previously closed at $25.80.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Raymond James reaffirmed 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. StockNews.com downgraded Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. Finally, Stephens boosted their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $30.00.

Seacoast Banking Co. of Florida Stock Performance

The stock has a 50 day moving average of $27.19 and a two-hundred day moving average of $27.56. The stock has a market capitalization of $1.92 billion, a PE ratio of 15.73 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, beating 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%. Research analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.21%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida's payout ratio is currently 50.35%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Seacoast Banking Co. of Florida by 0.7% in 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. North Reef Capital Management LP lifted its position in shares of Seacoast Banking Co. of Florida by 3.7% in the fourth quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider's stock valued at $116,452,000 after acquiring an additional 150,000 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Seacoast Banking Co. of Florida by 7.9% during the third quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider's stock valued at $111,144,000 after acquiring an additional 305,843 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Seacoast Banking Co. of Florida by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider's stock worth $82,195,000 after purchasing an additional 16,214 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Seacoast Banking Co. of Florida by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider's stock valued at $53,959,000 after purchasing an additional 23,396 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company's stock.

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.