Contravisory Investment Management Inc. Invests $263,000 in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Contravisory Investment Management Inc. acquired a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 10,206 shares of the financial services provider's stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBCF. Barclays PLC raised its holdings in shares of Seacoast Banking Co. of Florida by 112.0% during the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider's stock valued at $4,754,000 after buying an additional 94,242 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Seacoast Banking Co. of Florida by 24.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider's stock valued at $270,000 after acquiring an additional 1,930 shares during the period. KBC Group NV raised its stake in 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 in the last quarter. Rhumbline Advisers boosted its position in Seacoast Banking Co. of Florida by 0.3% during the 4th quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider's stock worth $7,048,000 after acquiring an additional 717 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 410,632 shares of the financial services provider's stock worth $11,305,000 after purchasing an additional 12,142 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Hovde Group boosted their price target on shares of Seacoast Banking Co. of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research report on Wednesday. Stephens reduced their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $29.20.

Seacoast Banking Co. of Florida Price Performance

NASDAQ SBCF traded up $0.43 on Friday, reaching $25.90. The company's stock had a trading volume of 578,167 shares, compared to its average volume of 429,719. Seacoast Banking Co. of Florida has a twelve month low of $21.36 and a twelve month high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The firm's 50 day moving average is $24.22 and its two-hundred day moving average is $26.60. The stock has a market cap of $2.23 billion, a PE ratio of 18.11 and a beta of 0.92.

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 the consensus estimate of $0.40 by ($0.02). The business had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.41 million. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. Seacoast Banking Co. of Florida's revenue was up 12.0% compared to the same quarter last year. As a group, sell-side analysts predict 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. Stockholders of record on Friday, June 13th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida's dividend 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.