First Eagle Investment Management LLC Decreases Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

First Eagle Investment Management LLC reduced its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 654,051 shares of the financial services provider's stock after selling 10,400 shares during the period. First Eagle Investment Management LLC owned approximately 0.77% of Seacoast Banking Co. of Florida worth $18,006,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SBCF. Versor Investments LP grew its position in shares of Seacoast Banking Co. of Florida by 26.7% during the third quarter. Versor Investments LP now owns 14,700 shares of the financial services provider's stock worth $392,000 after buying an additional 3,100 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Seacoast Banking Co. of Florida during the third quarter worth about $368,000. Victory Capital Management Inc. grew its position in shares of Seacoast Banking Co. of Florida by 4.9% during the third quarter. Victory Capital Management Inc. now owns 34,933 shares of the financial services provider's stock worth $931,000 after buying an additional 1,636 shares in the last quarter. KBC Group NV grew its position in shares of Seacoast Banking Co. of Florida by 30.0% during the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider's stock worth $89,000 after buying an additional 768 shares in the last quarter. Finally, Curi RMB Capital LLC grew its position in shares of Seacoast Banking Co. of Florida by 5.0% during the third quarter. Curi RMB Capital LLC now owns 544,914 shares of the financial services provider's stock worth $14,522,000 after buying an additional 26,121 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

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Seacoast Banking Co. of Florida Stock Performance

Shares of Seacoast Banking Co. of Florida stock traded down $0.01 during trading hours on Tuesday, hitting $26.18. 591,732 shares of the company were exchanged, compared to its average volume of 388,581. The business has a 50-day moving average of $27.57 and a 200-day moving average of $27.73. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 18.31 and a beta of 1.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its 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 return on equity of 5.91% and a net margin of 14.95%. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida's payout ratio is currently 50.35%.

Analyst Upgrades and Downgrades

SBCF has been the subject of several recent analyst reports. Raymond James restated an "outperform" rating and set a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Stephens boosted their target price on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. Finally, StockNews.com upgraded Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research note 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. 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.

Seacoast Banking Co. of Florida 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.