Royce & Associates LP Has $29.23 Million Stock Holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Royce & Associates LP increased its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,135,997 shares of the financial services provider's stock after acquiring an additional 58,601 shares during the period. Royce & Associates LP owned about 1.33% of Seacoast Banking Corporation of Florida worth $29,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SBCF. Opal Wealth Advisors LLC acquired a new stake in Seacoast Banking Corporation of Florida in the first quarter valued at approximately $27,000. IFP Advisors Inc boosted its position in Seacoast Banking Corporation of Florida by 343.9% in the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider's stock valued at $33,000 after buying an additional 994 shares in the last quarter. GAMMA Investing LLC boosted its position in Seacoast Banking Corporation of Florida by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock valued at $43,000 after buying an additional 460 shares in the last quarter. CWM LLC boosted its position in Seacoast Banking Corporation of Florida by 61.6% in the first 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 in the last quarter. Finally, Sterling Capital Management LLC boosted its position in Seacoast Banking Corporation of Florida by 811.6% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 81.77% of the company's stock.

Seacoast Banking Corporation of Florida Stock Performance

Seacoast Banking Corporation of Florida stock traded down $0.17 during trading on Thursday, hitting $28.76. The stock had a trading volume of 74,070 shares, compared to its average volume of 486,686. 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 quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock's 50 day moving average is $26.79 and its two-hundred day moving average is $26.29. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 19.29 and a beta of 0.94.

Seacoast Banking Corporation 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 firm had revenue of $140.70 million during the quarter, compared to analysts' expectations of $138.41 million. Seacoast Banking Corporation of Florida had a net margin of 15.44% and a return on equity of 6.11%. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.50%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio is presently 48.32%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SBCF. Wall Street Zen lowered shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Stephens cut their price target 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 lifted 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 report on Monday, June 2nd. Finally, Hovde Group lifted 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 report on Wednesday, June 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $29.20.

Seacoast Banking Corporation 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.

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