Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Gap Down - Here's Why

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $26.63, but opened at $25.80. Seacoast Banking Co. of Florida shares last traded at $26.48, with a volume of 35,378 shares changing hands.

Analyst Ratings Changes

Several research analysts recently weighed in on SBCF shares. Stephens boosted their price target 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. Raymond James reiterated an "outperform" rating and set a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Finally, StockNews.com raised Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $30.00.

Seacoast Banking Co. of Florida Trading Down 2.3 %

The firm has a 50 day moving average of $27.51 and a 200 day moving average of $27.67. The firm has a market cap of $2.18 billion, a PE ratio of 17.83 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16.

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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 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%. Equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.82%. Seacoast Banking Co. of Florida's dividend payout ratio is presently 50.35%.

Institutional Trading of Seacoast Banking Co. of Florida

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in 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 lifted its position in shares of Seacoast Banking Co. of Florida by 35.0% during the third quarter. Jane Street Group LLC now owns 105,808 shares of the financial services provider's stock worth $2,820,000 after acquiring an additional 27,403 shares in the last quarter. State Street Corp lifted its position in shares of Seacoast Banking Co. of Florida by 0.7% during the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider's stock worth $112,978,000 after acquiring an additional 28,066 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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. Finally, Citigroup Inc. grew its position in shares of Seacoast Banking Co. of Florida by 14.6% in the third 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 in the last quarter. Institutional investors own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Company 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.