GW&K Investment Management LLC Has $27.63 Million Position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

GW&K Investment Management LLC trimmed its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 3.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,073,810 shares of the financial services provider's stock after selling 33,934 shares during the period. GW&K Investment Management LLC owned about 1.25% of Seacoast Banking Corporation of Florida worth $27,629,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Seacoast Banking Corporation of Florida by 3.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider's stock valued at $318,000 after buying an additional 380 shares during the period. Mariner LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 2.8% during the 4th quarter. Mariner LLC now owns 15,132 shares of the financial services provider's stock worth $417,000 after purchasing an additional 407 shares during the period. GAMMA Investing LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 38.0% during the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $43,000 after purchasing an additional 460 shares during the period. Synovus Financial Corp boosted its position in shares of Seacoast Banking Corporation of Florida by 1.6% during the 4th quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider's stock valued at $915,000 after acquiring an additional 539 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of Seacoast Banking Corporation of Florida by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,838 shares of the financial services provider's stock valued at $243,000 after acquiring an additional 562 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company's stock.

Wall Street Analyst Weigh In

SBCF has been the topic of several recent research reports. Hovde Group lifted their target price on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a research report on Wednesday, June 4th. Keefe, Bruyette & Woods boosted their price target on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Stephens lowered their target price on shares of Seacoast Banking Corporation 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, Wall Street Zen downgraded shares of Seacoast Banking Corporation 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 given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $29.20.

Seacoast Banking Corporation of Florida Stock Down 0.2%

SBCF traded down $0.05 during trading hours on Friday, hitting $28.77. 343,906 shares of the company's stock were exchanged, compared to its average volume of 491,124. Seacoast Banking Corporation of Florida has a 1-year low of $21.36 and a 1-year high of $31.68. The stock's 50-day moving average is $26.85 and its two-hundred day moving average is $26.30. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 19.27 and a beta of 0.94. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a net margin of 15.44% and a return on equity of 6.11%. The company had revenue of $151.40 million for the quarter, compared to analyst estimates of $146.08 million. During the same period in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.50%. Seacoast Banking Corporation of Florida's payout ratio is 48.32%.

Seacoast Banking Corporation 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.