Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 927,423 shares of the financial services provider's stock after selling 35,175 shares during the quarter. Brown Advisory Inc. owned approximately 1.09% of Seacoast Banking Co. of Florida worth $25,532,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. raised its position in shares of Seacoast Banking Co. of Florida by 94.5% in the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider's stock worth $11,163,000 after acquiring an additional 197,067 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Seacoast Banking Co. of Florida by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 410,632 shares of the financial services provider's stock worth $11,305,000 after buying an additional 12,142 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter worth $341,000. Raymond James Financial Inc. purchased a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at about $6,850,000. Finally, New York State Common Retirement Fund raised its stake in shares of Seacoast Banking Co. of Florida by 3.1% in the fourth quarter. New York State Common Retirement Fund now owns 229,913 shares of the financial services provider's stock worth $6,330,000 after purchasing an additional 7,012 shares during the last quarter. 81.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SBCF shares. Raymond James reissued an "outperform" rating and set a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods decreased their price objective on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Stephens cut their price target on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Finally, StockNews.com cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Price Performance

Shares of Seacoast Banking Co. of Florida stock traded down $0.17 during mid-day trading on Friday, reaching $24.75. 227,980 shares of the stock traded hands, compared to its average volume of 422,255. The business has a 50-day moving average of $24.47 and a 200 day moving average of $26.97. The stock has a market capitalization of $2.13 billion, a PE ratio of 17.31 and a beta of 0.89. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $140.70 million for the quarter, compared to analysts' expectations of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The company's revenue was up 12.0% on a year-over-year basis. On average, analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.91%. Seacoast Banking Co. of Florida's dividend payout ratio is currently 48.32%.

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.