16,300 Shares in Seacoast Banking Co. of Florida (NASDAQ:SBCF) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 16,300 shares of the financial services provider's stock, valued at approximately $449,000.

Several other hedge funds have also recently made changes to their positions in SBCF. Envestnet Portfolio Solutions Inc. raised its stake in Seacoast Banking Co. of Florida by 3.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider's stock worth $318,000 after buying an additional 380 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Seacoast Banking Co. of Florida by 6.0% during the fourth quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 478 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Seacoast Banking Co. of Florida by 1.7% during the fourth quarter. Victory Capital Management Inc. now owns 35,518 shares of the financial services provider's stock worth $978,000 after purchasing an additional 585 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 154.0% in the 4th 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. Finally, Rhumbline Advisers grew its position in Seacoast Banking Co. of Florida by 0.3% in the 4th quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider's stock valued at $7,048,000 after purchasing an additional 717 shares during the period. 81.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SBCF shares. Stephens upped their price objective 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 reaffirmed an "outperform" rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $30.00.

Seacoast Banking Co. of Florida Stock Up 6.2 %

Seacoast Banking Co. of Florida stock traded up $1.38 during midday trading on Wednesday, hitting $23.62. 1,094,307 shares of the stock were exchanged, compared to its average volume of 422,874. Seacoast Banking Co. of Florida has a 52-week low of $21.46 and a 52-week high of $32.20. 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 business's 50-day moving average price is $26.76 and its 200-day moving average price is $27.44. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 16.52 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, topping 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%. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida's dividend payout ratio is 50.35%.

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.