American Century Companies Inc. Increases Stock Position in Seacoast Banking Corporation of Florida $SBCF

Key Points

• American Century Companies Inc. increased its stake in Seacoast Banking Corporation of Florida by 10.1% in the 1st quarter, owning a total of 204,811 shares worth approximately $5.27 million.
• Seacoast Banking Corporation posted earnings of $0.52 per share, exceeding analyst estimates of $0.42, and reported a revenue of $151.4 million for the last quarter.
• The company announced a quarterly dividend of $0.18 per share, with a yield of 2.3%, and a dividend payout ratio of 44.17%.

American Century Companies Inc. lifted its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,811 shares of the financial services provider's stock after acquiring an additional 18,780 shares during the quarter. American Century Companies Inc. owned 0.24% of Seacoast Banking Corporation of Florida worth $5,270,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Mariner LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 2.8% during the 4th quarter. Mariner LLC now owns 15,132 shares of the financial services provider's stock worth $417,000 after buying an additional 407 shares during the last quarter. GAMMA Investing LLC boosted its position in Seacoast Banking Corporation of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock valued at $43,000 after buying an additional 460 shares during the period. HighTower Advisors LLC boosted its position in Seacoast Banking Corporation of Florida by 7.0% in the 1st quarter. HighTower Advisors LLC now owns 10,149 shares of the financial services provider's stock valued at $261,000 after buying an additional 663 shares during the period. Comerica Bank lifted its position in shares of Seacoast Banking Corporation of Florida by 2.6% during the 4th quarter. Comerica Bank now owns 37,173 shares of the financial services provider's stock worth $1,023,000 after purchasing an additional 946 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in shares of Seacoast Banking Corporation of Florida by 343.9% during the 1st quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider's stock worth $33,000 after purchasing an additional 994 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Stock Performance

Shares of Seacoast Banking Corporation of Florida stock traded up $0.06 on Wednesday, reaching $30.93. 422,510 shares of the stock were exchanged, compared to its average volume of 619,202. 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 0.36. The business has a fifty day moving average price of $29.10 and a two-hundred day moving average price of $26.61. The firm has a market capitalization of $2.72 billion, a PE ratio of 18.98 and a beta of 0.98.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. The business had revenue of $151.40 million for the quarter, compared to analyst estimates of $146.08 million. During the same period in the previous year, the business posted $0.36 earnings per share. As a group, research 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio is presently 44.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SBCF shares. Hovde Group boosted their price target 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. Zacks Research raised shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

Seacoast Banking Corporation 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.