Rafferty Asset Management LLC Sells 19,877 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Rafferty Asset Management LLC cut its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 20.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,192 shares of the financial services provider's stock after selling 19,877 shares during the period. Rafferty Asset Management LLC owned 0.09% of Seacoast Banking Co. of Florida worth $2,098,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barclays PLC increased its position in Seacoast Banking Co. of Florida by 112.0% during 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 during the period. ZWJ Investment Counsel Inc. bought a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at about $203,000. Janney Montgomery Scott LLC increased its position in shares of Seacoast Banking Co. of Florida by 24.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider's stock valued at $270,000 after buying an additional 1,930 shares during the period. Tributary Capital Management LLC lifted 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 worth $18,028,000 after buying an additional 201,494 shares during the period. Finally, KBC Group NV boosted its position in Seacoast Banking Co. of Florida by 33.7% during 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 in the last quarter. Institutional investors own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Stock Down 0.2%

Seacoast Banking Co. of Florida stock traded down $0.04 during mid-day trading on Monday, hitting $24.57. The company had a trading volume of 279,655 shares, compared to its average volume of 422,204. 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 market capitalization of $2.11 billion, a PE ratio of 17.18 and a beta of 0.89. The stock's 50 day moving average price is $24.36 and its two-hundred day moving average price is $26.83. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. 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 (EPS) 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 company had revenue of $140.70 million during the quarter, compared to analysts' expectations of $138.41 million. The firm's revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share 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. Stockholders of record on Friday, June 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.93%. Seacoast Banking Co. of Florida's dividend payout ratio is presently 48.32%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SBCF. Wall Street Zen lowered Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Stephens decreased their price objective on 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 restated an "outperform" rating and set a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods reduced their target price 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 report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.