Deutsche Bank AG Cuts Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Deutsche Bank AG lessened its holdings 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 SEC. The institutional investor owned 73,752 shares of the financial services provider's stock after selling 55,817 shares during the period. Deutsche Bank AG owned 0.09% of Seacoast Banking Co. of Florida worth $2,030,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SBCF. Smartleaf Asset Management LLC boosted 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 valued at $31,000 after acquiring an additional 679 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $34,000. Sterling Capital Management LLC raised its holdings 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 worth $73,000 after acquiring an additional 2,370 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at $76,000. Finally, 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 buying an additional 1,121 shares during the last quarter. Institutional investors own 81.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SBCF. Wall Street Zen cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Stephens cut 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. Raymond James reissued an "outperform" rating and issued a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lowered their target price on Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $29.40.

Seacoast Banking Co. of Florida Price Performance

Shares of Seacoast Banking Co. of Florida stock traded down $0.20 on Wednesday, hitting $25.03. 155,659 shares of the company were exchanged, compared to its average volume of 420,694. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 17.55 and a beta of 0.89. The company has a 50-day moving average price of $24.31 and a 200 day moving average price of $26.78. Seacoast Banking Co. of Florida has a 1-year low of $21.36 and a 1-year high of $31.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The firm had revenue of $140.70 million during the quarter, compared to analysts' expectations of $138.41 million. Seacoast Banking Co. of Florida's revenue for the quarter 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 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.88%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is 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.