Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. reduced its stake in Seacoast Banking Corporation of Florida by 72.3%, leaving them with 48,930 shares valued at approximately $1.26 million.
• Recent earnings reported $0.52 EPS for the quarter, surpassing analyst expectations of $0.42 EPS, and total revenue reached $151.40 million.
• The company declared a quarterly dividend of $0.18, with an annualized yield of 2.6%, set to be paid on September 30th.

Jefferies Financial Group Inc. trimmed its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 72.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,930 shares of the financial services provider's stock after selling 127,805 shares during the quarter. Jefferies Financial Group Inc. owned 0.06% of Seacoast Banking Corporation of Florida worth $1,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orca Wealth Management LLC purchased a new stake in Seacoast Banking Corporation of Florida during the first quarter worth $445,000. Mackenzie Financial Corp lifted its position in shares of 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 buying an additional 1,015 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Seacoast Banking Corporation of Florida by 5.4% in the 1st quarter. Royce & Associates LP now owns 1,135,997 shares of the financial services provider's stock valued at $29,229,000 after buying an additional 58,601 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Seacoast Banking Corporation of Florida by 343.9% during the 1st quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider's stock worth $33,000 after acquiring an additional 994 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in Seacoast Banking Corporation of Florida by 3.2% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,916,743 shares of the financial services provider's stock worth $49,318,000 after buying an additional 58,560 shares during the last quarter. Institutional investors own 81.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SBCF shares. Hovde Group raised 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 report on Wednesday, June 4th. Keefe, Bruyette & Woods raised their price objective on 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. Stephens decreased their target price on Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Finally, 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $29.40.

Seacoast Banking Corporation of Florida Stock Up 0.7%

Shares of NASDAQ:SBCF traded up $0.20 on Friday, hitting $27.63. 155,846 shares of the company's stock were exchanged, compared to its average volume of 509,007. Seacoast Banking Corporation of Florida has a 1-year low of $21.36 and a 1-year high of $31.68. The company has a market capitalization of $2.38 billion, a PE ratio of 16.96 and a beta of 0.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85. The firm's 50-day moving average is $27.47 and its 200 day moving average is $26.42.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. The firm had revenue of $151.40 million during the quarter, compared to analysts' expectations of $146.08 million. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%. During the same period in the prior year, the firm earned $0.36 EPS. Sell-side analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.18 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.72 annualized dividend and a yield of 2.6%. Seacoast Banking Corporation of Florida's dividend payout ratio is presently 44.17%.

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.