Nuveen Asset Management LLC Purchases 182,350 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Nuveen Asset Management LLC raised its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 39.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 648,144 shares of the financial services provider's stock after acquiring an additional 182,350 shares during the period. Nuveen Asset Management LLC owned approximately 0.76% of Seacoast Banking Co. of Florida worth $17,843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Seacoast Banking Co. of Florida by 154.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 679 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $34,000. Sterling Capital Management LLC grew its holdings 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 buying an additional 2,370 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $76,000. Finally, KBC Group NV grew its holdings 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 buying an additional 1,121 shares during the period. Institutional investors own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Stock Up 2.6%

Shares of Seacoast Banking Co. of Florida stock traded up $0.65 during trading hours on Tuesday, reaching $25.22. 304,571 shares of the company's stock were exchanged, compared to its average volume of 421,733. The company has a 50 day moving average of $24.32 and a two-hundred day moving average of $26.79. Seacoast Banking Co. of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.17 billion, a P/E ratio of 17.64 and a beta of 0.89.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $138.41 million. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.85%. Seacoast Banking Co. of Florida's dividend payout ratio is 48.32%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SBCF shares. Stephens decreased their price target 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 report on Monday, April 28th. Wall Street Zen lowered shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Keefe, Bruyette & Woods decreased their price target on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Raymond James reaffirmed an "outperform" rating and issued 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $29.40.

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.