Wellington Management Group LLP Sells 214,368 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Wellington Management Group LLP trimmed its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,956,147 shares of the financial services provider's stock after selling 214,368 shares during the period. Wellington Management Group LLP owned 4.62% of Seacoast Banking Co. of Florida worth $108,913,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp lifted its holdings in Seacoast Banking Co. of Florida by 0.7% during the 3rd 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 during the last quarter. Geode Capital Management LLC raised its position in shares of Seacoast Banking Co. of Florida by 1.2% in the third 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 period. Segall Bryant & Hamill LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 0.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider's stock worth $51,156,000 after buying an additional 11,765 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,160,182 shares of the financial services provider's stock worth $31,940,000 after buying an additional 27,825 shares during the period. Finally, Royce & Associates LP grew its stake in Seacoast Banking Co. of Florida by 5.0% in the 4th quarter. Royce & Associates LP now owns 1,077,396 shares of the financial services provider's stock valued at $29,661,000 after buying an additional 50,818 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBCF. Stephens boosted their price objective on 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. StockNews.com downgraded Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. Finally, Raymond James reaffirmed an "outperform" rating and issued a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $30.00.

Seacoast Banking Co. of Florida Price Performance

Shares of SBCF stock traded up $0.47 during trading on Tuesday, hitting $23.03. The company had a trading volume of 130,901 shares, compared to its average volume of 434,604. The firm has a market capitalization of $1.97 billion, a P/E ratio of 16.12 and a beta of 0.97. Seacoast Banking Co. of Florida has a one year low of $21.64 and a one year high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The stock's 50-day moving average price is $27.19 and its 200 day moving average price is $27.56.

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 earnings per share 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 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.13%. Seacoast Banking Co. of Florida's payout ratio is 50.35%.

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.