Bank of America Corp DE Lowers Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Bank of America Corp DE cut its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 210,657 shares of the financial services provider's stock after selling 27,549 shares during the quarter. Bank of America Corp DE owned 0.25% of Seacoast Banking Co. of Florida worth $5,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Seacoast Banking Co. of Florida by 94.5% during the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider's stock valued at $11,163,000 after acquiring an additional 197,067 shares during the period. Principal Financial Group Inc. boosted its holdings in Seacoast Banking Co. of Florida by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 410,632 shares of the financial services provider's stock valued at $11,305,000 after acquiring an additional 12,142 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at about $341,000. Raymond James Financial Inc. purchased a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at about $6,850,000. Finally, New York State Common Retirement Fund boosted its holdings in Seacoast Banking Co. of Florida by 3.1% during the 4th quarter. New York State Common Retirement Fund now owns 229,913 shares of the financial services provider's stock valued at $6,330,000 after acquiring an additional 7,012 shares during the period. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBCF has been the subject of several analyst reports. Wall Street Zen cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Keefe, Bruyette & Woods dropped their price objective 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, Stephens dropped their price objective on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Trading Up 3.2%

NASDAQ SBCF traded up $0.80 on Friday, hitting $25.85. The company's stock had a trading volume of 1,130,193 shares, compared to its average volume of 424,145. Seacoast Banking Co. of Florida has a 52-week low of $21.36 and a 52-week 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 0.16. The company's 50-day simple moving average is $24.24 and its 200 day simple moving average is $26.67. The firm has a market cap of $2.22 billion, a P/E ratio of 18.08 and a beta of 0.89.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The firm had revenue of $140.70 million during the quarter, compared to analysts' expectations of $138.41 million. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The business's revenue was up 12.0% on a year-over-year basis. Research analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida's payout ratio is presently 48.32%.

Seacoast Banking Co. 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.