Nuveen Asset Management LLC Raises Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Nuveen Asset Management LLC lifted its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 39.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 648,144 shares of the financial services provider's stock after buying an additional 182,350 shares during the period. Nuveen Asset Management LLC owned about 0.76% of Seacoast Banking Co. of Florida worth $17,843,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SBCF. Barclays PLC increased its stake in Seacoast Banking Co. of Florida by 112.0% in the 3rd quarter. Barclays PLC now owns 178,355 shares of the financial services provider's stock valued at $4,754,000 after purchasing an additional 94,242 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Seacoast Banking Co. of Florida by 24.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider's stock valued at $270,000 after acquiring an additional 1,930 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in Seacoast Banking Co. of Florida by 44.4% in the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider's stock valued at $18,028,000 after acquiring an additional 201,494 shares during the last quarter. KBC Group NV raised its position in Seacoast Banking Co. of Florida by 33.7% in the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock valued at $122,000 after purchasing an additional 1,121 shares during the period. Finally, Rhumbline Advisers raised its position in Seacoast Banking Co. of Florida by 0.3% in the fourth quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider's stock valued at $7,048,000 after purchasing an additional 717 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SBCF shares. Wall Street Zen downgraded Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Raymond James reissued an "outperform" rating and set a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their price target on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Stephens dropped their price target on shares of 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. One 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 Co. of Florida has an average rating of "Hold" and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock traded up $0.05 during mid-day trading on Thursday, reaching $24.96. 237,239 shares of the stock traded hands, compared to its average volume of 427,385. 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 has a 52 week low of $21.36 and a 52 week high of $31.68. The business has a 50-day moving average of $24.29 and a two-hundred day moving average of $26.77. The firm has a market capitalization of $2.15 billion, a PE ratio of 17.44 and a beta of 0.89.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $138.41 million. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is presently 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.