Element Pointe Advisors LLC Has $1.34 Million Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Element Pointe Advisors LLC lifted its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 114.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,650 shares of the financial services provider's stock after acquiring an additional 26,011 shares during the period. Seacoast Banking Co. of Florida makes up approximately 0.3% of Element Pointe Advisors LLC's investment portfolio, making the stock its 28th largest position. Element Pointe Advisors LLC owned about 0.06% of Seacoast Banking Co. of Florida worth $1,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in shares of Seacoast Banking Co. of Florida by 154.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 679 shares during the period. Kestra Investment Management LLC bought a new stake in Seacoast Banking Co. of Florida during the fourth quarter worth about $34,000. Sterling Capital Management LLC grew its stake 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 worth $73,000 after buying an additional 2,370 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at about $76,000. Finally, KBC Group NV raised its position in shares of Seacoast Banking Co. of Florida by 33.7% in the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock valued at $122,000 after buying an additional 1,121 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock opened at $24.28 on Wednesday. The company has a market capitalization of $2.08 billion, a PE ratio of 16.98 and a beta of 0.89. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $24.67 and a two-hundred day moving average price of $27.02. Seacoast Banking Co. of Florida has a 12 month low of $21.36 and a 12 month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its 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). Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The business had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.41 million. The company's revenue was up 12.0% on a year-over-year basis. Analysts expect 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. Investors of record on Friday, June 13th will be issued a $0.18 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.97%. Seacoast Banking Co. of Florida's payout ratio is 48.32%.

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.

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