Deutsche Bank AG Sells 55,817 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Deutsche Bank AG trimmed its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 43.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,752 shares of the financial services provider's stock after selling 55,817 shares during the period. Deutsche Bank AG owned about 0.09% of Seacoast Banking Co. of Florida worth $2,030,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its position in 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 worth $31,000 after acquiring an additional 679 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Seacoast Banking Co. of Florida in the 4th quarter valued at about $34,000. Sterling Capital Management LLC increased its position in Seacoast Banking Co. of Florida by 811.6% in 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 in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Seacoast Banking Co. of Florida in the fourth quarter worth about $76,000. Finally, KBC Group NV lifted its position in shares of Seacoast Banking Co. of Florida by 33.7% during the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock worth $122,000 after purchasing an additional 1,121 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Performance

Shares of Seacoast Banking Co. of Florida stock traded up $0.14 during trading on Thursday, hitting $25.05. 414,723 shares of the stock were exchanged, compared to its average volume of 421,447. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $24.25 and a 200-day moving average price of $26.74. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 17.52 and a beta of 0.89. Seacoast Banking Co. of Florida has a 1-year low of $21.36 and a 1-year high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced 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 company had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio is currently 48.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James reissued an "outperform" rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Stephens lowered their target price on 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. Keefe, Bruyette & Woods cut their price target on 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. Finally, Wall Street Zen cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. 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's stock. According to data from MarketBeat, Seacoast Banking Co. of Florida has an average rating of "Hold" and an average price target of $29.40.

About Seacoast Banking Co. 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.