American Century Companies Inc. Has $5.27 Million Stake 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. increased its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 204,811 shares of the financial services provider's stock after buying an additional 18,780 shares during the period. American Century Companies Inc. owned 0.24% of Seacoast Banking Corporation of Florida worth $5,270,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Westwood Holdings Group Inc. boosted its holdings in Seacoast Banking Corporation of Florida by 27.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider's stock valued at $73,834,000 after purchasing an additional 622,709 shares during the period. Nuveen LLC bought a new stake in Seacoast Banking Corporation of Florida in the 1st quarter valued at $12,454,000. Nuveen Asset Management LLC boosted its holdings in Seacoast Banking Corporation of Florida by 39.1% in the 4th quarter. Nuveen Asset Management LLC now owns 648,144 shares of the financial services provider's stock valued at $17,843,000 after purchasing an additional 182,350 shares during the period. Jefferies Financial Group Inc. bought a new stake in Seacoast Banking Corporation of Florida in the 4th quarter valued at $4,866,000. Finally, Aptus Capital Advisors LLC boosted its holdings in Seacoast Banking Corporation of Florida by 38.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 307,456 shares of the financial services provider's stock valued at $8,464,000 after purchasing an additional 86,175 shares during the period. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ SBCF traded down $0.34 during trading on Tuesday, reaching $30.77. The company had a trading volume of 152,775 shares, compared to its average volume of 520,044. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $31.68. The stock has a market cap of $2.70 billion, a PE ratio of 18.87 and a beta of 0.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85. The business's 50 day moving average price is $28.90 and its 200-day moving average price is $26.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share 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 company had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. During the same period in the previous year, the firm posted $0.36 earnings per share. Analysts expect that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SBCF shares. Keefe, Bruyette & Woods raised their price objective on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research raised shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Finally, Hovde Group raised 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 report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average 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.