MQS Management LLC acquired a new position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,494 shares of the financial services provider's stock, valued at approximately $244,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Seacoast Banking Corporation of Florida by 61.6% during the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider's stock valued at $68,000 after buying an additional 1,004 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Seacoast Banking Corporation of Florida by 1.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 143,979 shares of the financial services provider's stock valued at $3,705,000 after buying an additional 2,139 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Seacoast Banking Corporation of Florida by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 422,306 shares of the financial services provider's stock valued at $10,866,000 after buying an additional 11,674 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 1st quarter valued at $410,000. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Seacoast Banking Corporation of Florida by 4.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 47,334 shares of the financial services provider's stock valued at $1,218,000 after buying an additional 1,826 shares during the period. Institutional investors and hedge funds own 81.77% of the company's stock.
Analyst Ratings Changes
SBCF has been the subject of a number of research reports. Wall Street Zen lowered shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Stephens dropped their target price on shares of Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods raised 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 report on Monday, June 2nd. Finally, 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 research report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Seacoast Banking Corporation of Florida currently has a consensus rating of "Hold" and a consensus target price of $29.20.
Check Out Our Latest Report on Seacoast Banking Corporation of Florida
Seacoast Banking Corporation of Florida Price Performance
NASDAQ:SBCF traded down $0.03 on Friday, reaching $29.17. The stock had a trading volume of 587,416 shares, compared to its average volume of 451,518. 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 $2.51 billion, a P/E ratio of 19.58 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. The stock has a fifty day moving average price of $26.60 and a 200-day moving average price of $26.25.
Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Seacoast Banking Corporation of Florida had a return on equity of 6.11% and a net margin of 15.44%. The business had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.41 million. Seacoast Banking Corporation of Florida's revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.
Seacoast Banking Corporation of Florida Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.47%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is currently 48.32%.
Seacoast Banking Corporation of Florida Company Profile
(
Free Report)
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.
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