Brown Advisory Inc. Sells 12,857 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Brown Advisory Inc. lowered its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 914,566 shares of the financial services provider's stock after selling 12,857 shares during the period. Brown Advisory Inc. owned approximately 1.07% of Seacoast Banking Corporation of Florida worth $23,532,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter worth $27,000. Smartleaf Asset Management LLC increased its position in shares of Seacoast Banking Corporation of Florida by 154.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock worth $31,000 after acquiring an additional 679 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Seacoast Banking Corporation of Florida by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $43,000 after acquiring an additional 460 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Seacoast Banking Corporation of Florida by 811.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock worth $73,000 after acquiring an additional 2,370 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the fourth quarter worth $212,000. Institutional investors and hedge funds own 81.77% of the company's stock.

Seacoast Banking Corporation of Florida Stock Performance

Shares of Seacoast Banking Corporation of Florida stock traded down $0.24 during trading hours on Friday, reaching $29.42. The company's stock had a trading volume of 133,457 shares, compared to its average volume of 454,656. The company's 50 day simple moving average is $26.05 and its 200 day simple moving average is $26.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $31.68. The stock has a market cap of $2.53 billion, a P/E ratio of 19.73 and a beta of 0.94.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.41 million. The business's quarterly revenue was up 12.0% on a year-over-year basis. As a group, analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently announced 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. This represents a $0.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Friday, June 13th. Seacoast Banking Corporation of Florida's payout ratio is 48.32%.

Wall Street Analysts Forecast Growth

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

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.