BNP Paribas Financial Markets Trims Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

BNP Paribas Financial Markets reduced its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 60.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,391 shares of the financial services provider's stock after selling 20,847 shares during the period. BNP Paribas Financial Markets' holdings in Seacoast Banking Co. of Florida were worth $369,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in shares of Seacoast Banking Co. of Florida by 154.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 679 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at about $34,000. Sterling Capital Management LLC grew its position in shares of Seacoast Banking Co. of Florida by 811.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock valued at $73,000 after acquiring an additional 2,370 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at about $76,000. Finally, KBC Group NV grew its position in shares of Seacoast Banking Co. of Florida by 33.7% during the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock valued at $122,000 after acquiring an additional 1,121 shares during the period. 81.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Stephens decreased their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $29.40.

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock traded up $0.80 during midday trading on Friday, reaching $25.85. The company had a trading volume of 1,130,193 shares, compared to its average volume of 424,145. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The firm's fifty day simple moving average is $24.24 and its 200-day simple moving average is $26.69. Seacoast Banking Co. of Florida has a 12-month low of $21.36 and a 12-month high of $31.68. The company has a market capitalization 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 posted its quarterly 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 Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The company had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.41 million. The firm's revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

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

Seacoast Banking Co. of Florida Company 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.