Ceredex Value Advisors LLC Increases Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Ceredex Value Advisors LLC grew its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,204 shares of the financial services provider's stock after buying an additional 32,250 shares during the period. Ceredex Value Advisors LLC owned approximately 0.59% of Seacoast Banking Co. of Florida worth $13,853,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mariner LLC raised its holdings in shares of Seacoast Banking Co. of Florida by 2.8% during the 4th quarter. Mariner LLC now owns 15,132 shares of the financial services provider's stock valued at $417,000 after buying an additional 407 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Seacoast Banking Co. of Florida by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,838 shares of the financial services provider's stock valued at $243,000 after purchasing an additional 562 shares in the last quarter. Synovus Financial Corp raised its position in Seacoast Banking Co. of Florida by 1.6% in the 4th quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider's stock worth $915,000 after purchasing an additional 539 shares during the period. Sterling Capital Management LLC boosted its position in Seacoast Banking Co. of Florida by 811.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock valued at $73,000 after buying an additional 2,370 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at about $6,850,000. Institutional investors own 81.77% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SBCF shares. Stephens increased their target price on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. StockNews.com raised shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Raymond James reissued an "outperform" rating and set 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.00.

Seacoast Banking Co. of Florida Trading Up 1.8 %

Shares of SBCF stock traded up $0.41 during trading hours on Tuesday, reaching $22.91. The company's stock had a trading volume of 90,239 shares, compared to its average volume of 423,338. The firm's fifty day simple moving average is $25.72 and its 200 day simple moving average is $27.24. Seacoast Banking Co. of Florida has a one year low of $21.36 and a one year high of $31.68. The stock has a market capitalization of $1.96 billion, a P/E ratio of 16.01 and a beta of 0.97. 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 issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. Equities research analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a yield of 3.14%. Seacoast Banking Co. of Florida's 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.