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

Royce & Associates LP boosted its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 5.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,135,997 shares of the financial services provider's stock after buying an additional 58,601 shares during the quarter. Royce & Associates LP owned approximately 1.33% of Seacoast Banking Corporation of Florida worth $29,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBCF. Opal Wealth Advisors LLC acquired a new stake in Seacoast Banking Corporation of Florida in the 1st quarter worth $27,000. IFP Advisors Inc grew its position in Seacoast Banking Corporation of Florida by 343.9% in the 1st quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider's stock worth $33,000 after purchasing an additional 994 shares during the last quarter. GAMMA Investing LLC grew its position in Seacoast Banking Corporation of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $43,000 after purchasing an additional 460 shares during the last quarter. CWM LLC grew its position in Seacoast Banking Corporation of Florida by 61.6% in the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider's stock worth $68,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in Seacoast Banking Corporation 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 worth $73,000 after purchasing an additional 2,370 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Price Performance

SBCF stock traded up $0.45 during trading on Monday, hitting $29.21. 713,722 shares of the stock traded hands, compared to its average volume of 496,690. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $31.68. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 17.92 and a beta of 0.94. The company has a 50 day simple moving average of $26.91 and a 200 day simple moving average of $26.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. The firm had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. During the same period last year, the firm posted $0.36 EPS. Equities analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida's payout ratio is presently 44.17%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Hovde Group raised 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 research report on Wednesday, June 4th. Stephens reduced their price objective on shares of Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Keefe, Bruyette & Woods raised their price objective 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, Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a report on Saturday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $29.20.

About Seacoast Banking Corporation 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.