Deutsche Bank AG Purchases 40,330 Shares of Seacoast Banking Corporation of Florida $SBCF

Key Points

• Deutsche Bank AG increased its investment in Seacoast Banking Corporation of Florida by 54.7%, owning approximately 114,082 shares valued at about $2.94 million as of the latest SEC filing.
• Seacoast Banking Corporation reported an earnings per share (EPS) of $0.52 for the last quarter, surpassing analysts' expectations of $0.42, with a revenue of $151.4 million.
• The company announced a quarterly dividend of $0.18 payable on September 30, which gives a 2.4% dividend yield and a payout ratio of 44.17%.

Deutsche Bank AG boosted its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 54.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,082 shares of the financial services provider's stock after purchasing an additional 40,330 shares during the period. Deutsche Bank AG owned about 0.13% of Seacoast Banking Corporation of Florida worth $2,935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in Seacoast Banking Corporation of Florida by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 953,894 shares of the financial services provider's stock valued at $24,544,000 after purchasing an additional 50,417 shares in the last quarter. Westwood Holdings Group Inc. grew its position in Seacoast Banking Corporation of Florida by 27.7% during the first quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider's stock valued at $73,834,000 after purchasing an additional 622,709 shares in the last quarter. Orca Wealth Management LLC purchased a new position in Seacoast Banking Corporation of Florida during the first quarter valued at approximately $445,000. Mackenzie Financial Corp grew its position in Seacoast Banking Corporation of Florida by 4.4% during the first quarter. Mackenzie Financial Corp now owns 24,159 shares of the financial services provider's stock valued at $622,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Royce & Associates LP grew its position in Seacoast Banking Corporation of Florida by 5.4% in the first quarter. Royce & Associates LP now owns 1,135,997 shares of the financial services provider's stock worth $29,229,000 after acquiring an additional 58,601 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Stock Performance

Shares of NASDAQ SBCF traded down $0.01 during trading hours on Monday, hitting $30.96. 544,466 shares of the stock were exchanged, compared to its average volume of 704,889. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.85 and a quick ratio of 0.85. The company's 50 day moving average is $28.30 and its 200 day moving average is $26.49. The firm has a market capitalization of $2.72 billion, a P/E ratio of 18.99 and a beta of 0.98. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $31.68.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. The business had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. During the same period in the prior year, the firm earned $0.36 EPS. On average, research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio is currently 44.17%.

Analysts Set New Price Targets

SBCF has been the topic of several analyst reports. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Stephens dropped their price target on shares of Seacoast Banking Corporation 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. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Hovde Group increased their price target on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 4th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Seacoast Banking Corporation of Florida currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.40.

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.