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

Nuveen Asset Management LLC grew its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 39.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 648,144 shares of the financial services provider's stock after purchasing an additional 182,350 shares during the quarter. 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.

Several other hedge funds and other institutional investors have also made changes to their positions in SBCF. Smartleaf Asset Management LLC lifted its stake 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 buying an additional 679 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter worth about $34,000. Sterling Capital Management LLC increased its stake 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 last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at approximately $76,000. Finally, KBC Group NV raised 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. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Down 1.2%

SBCF traded down $0.31 during trading on Wednesday, reaching $24.91. The company had a trading volume of 198,260 shares, compared to its average volume of 427,653. The company has a market cap of $2.14 billion, a P/E ratio of 17.45 and a beta of 0.89. Seacoast Banking Co. of Florida has a 12 month low of $21.36 and a 12 month high of $31.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The business's fifty day moving average price is $24.31 and its 200 day moving average price is $26.78.

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 the consensus estimate of $0.40 by ($0.02). The company had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.41 million. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The firm's quarterly revenue was up 12.0% on a year-over-year basis. Equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.89%. Seacoast Banking Co. of Florida's dividend payout ratio is currently 48.32%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports 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 report on Monday, April 28th. Raymond James reissued an "outperform" rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their price objective on 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, Wall Street Zen lowered Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $29.40.

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.