15,926 Shares in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,926 shares of the financial services provider's stock, valued at approximately $410,000.

Other hedge funds also recently added to or reduced their stakes in the company. North Reef Capital Management LP raised its position in shares of Seacoast Banking Corporation of Florida by 3.7% during the 4th quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider's stock worth $116,452,000 after purchasing an additional 150,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Seacoast Banking Corporation of Florida by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider's stock valued at $82,195,000 after acquiring an additional 16,214 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in Seacoast Banking Corporation of Florida by 0.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,011,523 shares of the financial services provider's stock valued at $55,377,000 after buying an additional 14,536 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 0.6% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider's stock worth $51,156,000 after purchasing an additional 11,765 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Seacoast Banking Corporation of Florida by 6.4% during the fourth quarter. Northern Trust Corp now owns 929,697 shares of the financial services provider's stock worth $25,595,000 after buying an additional 55,930 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen lowered Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Stephens decreased their price target 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 report on Monday, April 28th. Keefe, Bruyette & Woods upped their price objective on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Finally, Hovde Group upped their price objective on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Seacoast Banking Corporation of Florida has an average rating of "Hold" and a consensus price target of $29.20.

Seacoast Banking Corporation of Florida Trading Up 1.7%

Shares of NASDAQ:SBCF opened at $29.20 on Friday. The firm has a fifty day moving average of $26.51 and a two-hundred day moving average of $26.24. The firm has a market capitalization of $2.51 billion, a P/E ratio of 19.60 and a beta of 0.94. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $31.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced 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 Corporation of Florida had a return on equity of 6.11% and a net margin of 15.44%. The firm had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.41 million. The company's revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, June 13th. This represents a $0.72 annualized dividend and a yield of 2.47%. Seacoast Banking Corporation of Florida's dividend 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.

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