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

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

A number of other large investors have also recently made changes to their positions in SBCF. JPMorgan Chase & Co. lifted its position in shares of Seacoast Banking Co. of Florida by 182.3% during the 4th quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider's stock valued at $18,730,000 after buying an additional 439,346 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at about $6,850,000. Invesco Ltd. lifted its position in shares of 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 buying an additional 197,067 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Seacoast Banking Co. of Florida by 39.1% during 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 buying an additional 182,350 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at about $4,866,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF traded up $0.43 during trading hours on Friday, reaching $25.90. The stock had a trading volume of 578,167 shares, compared to its average volume of 430,487. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. 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 50 day moving average price of $24.23 and a two-hundred day moving average price of $26.53. The stock has a market capitalization 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 quarterly earnings data 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 Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The firm had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.41 million. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 2.78%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida's payout ratio is 48.32%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Seacoast Banking Co. of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Hovde Group lifted their target price on Seacoast Banking Co. of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a research note on Wednesday. Stephens decreased their target price on 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, Wall Street Zen downgraded Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $29.20.

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.