Mackenzie Financial Corp Takes $637,000 Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Mackenzie Financial Corp bought a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,144 shares of the financial services provider's stock, valued at approximately $637,000.

A number of other hedge funds have also added to or reduced their stakes in SBCF. Smartleaf Asset Management LLC grew its position in Seacoast Banking Co. of Florida by 154.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 679 shares in the last quarter. Kestra Investment Management LLC bought a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at $34,000. Sterling Capital Management LLC grew its position in shares of 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 during the period. Venturi Wealth Management LLC bought a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at about $76,000. Finally, KBC Group NV grew its position in shares of Seacoast Banking Co. of Florida by 33.7% in the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock valued at $122,000 after acquiring an additional 1,121 shares during the period. Institutional investors own 81.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Stephens decreased their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Wall Street Zen downgraded shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Hovde Group lifted their price objective on shares of Seacoast Banking Co. of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a research report on Wednesday. One equities 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.com, Seacoast Banking Co. of Florida presently has an average rating of "Hold" and an average target price of $29.20.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF stock traded up $0.43 during midday trading on Friday, hitting $25.90. 578,167 shares of the company were exchanged, compared to its average volume of 430,627. The firm has a market capitalization of $2.23 billion, a P/E ratio of 18.11 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The firm's 50 day moving average price is $24.23 and its two-hundred day moving average price is $26.58. Seacoast Banking Co. of Florida has a 52 week low of $21.36 and a 52 week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The business had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.41 million. The company's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is 48.32%.

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.