Teacher Retirement System of Texas Makes New $410,000 Investment in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Teacher Retirement System of Texas purchased a new position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 15,926 shares of the financial services provider's stock, valued at approximately $410,000.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Seacoast Banking Corporation of Florida in the first quarter worth approximately $27,000. GAMMA Investing LLC raised its position in Seacoast Banking Corporation of Florida by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $43,000 after acquiring an additional 460 shares during the period. Sterling Capital Management LLC raised its position in Seacoast Banking Corporation of Florida by 811.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock worth $73,000 after acquiring an additional 2,370 shares during the period. Algert Global LLC bought a new position in Seacoast Banking Corporation of Florida in the fourth quarter worth approximately $212,000. Finally, Cibc World Markets Corp bought a new position in Seacoast Banking Corporation of Florida in the fourth quarter worth approximately $218,000. 81.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SBCF shares. Keefe, Bruyette & Woods increased their price objective on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Stephens reduced their price objective on shares of Seacoast Banking Corporation 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. Hovde Group increased their price objective on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen cut shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $29.20.

Seacoast Banking Corporation of Florida Price Performance

SBCF traded down $0.12 during trading on Monday, hitting $29.05. 528,030 shares of the company traded hands, compared to its average volume of 451,274. The company has a market cap of $2.50 billion, a PE ratio of 19.50 and a beta of 0.94. The stock's 50-day simple moving average is $26.60 and its two-hundred day simple moving average is $26.24. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.26.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share 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 Corporation of Florida had a net margin of 15.44% and a return on equity of 6.11%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 annualized dividend and a yield of 2.48%. Seacoast Banking Corporation of Florida's payout ratio is 48.32%.

About Seacoast Banking Corporation 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.