Salzhauer Michael Trims Stock Position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Salzhauer Michael decreased its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 10.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,614 shares of the financial services provider's stock after selling 22,067 shares during the period. Seacoast Banking Corporation of Florida makes up approximately 1.9% of Salzhauer Michael's holdings, making the stock its 11th biggest position. Salzhauer Michael owned 0.22% of Seacoast Banking Corporation of Florida worth $4,750,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Seacoast Banking Corporation of Florida by 182.3% during the fourth quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider's stock valued at $18,730,000 after purchasing an additional 439,346 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Seacoast Banking Corporation of Florida in the 4th quarter worth about $6,850,000. Invesco Ltd. raised its position in Seacoast Banking Corporation of Florida by 94.5% in the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider's stock worth $11,163,000 after buying an additional 197,067 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Seacoast Banking Corporation of Florida by 39.1% during the 4th quarter. Nuveen Asset Management LLC now owns 648,144 shares of the financial services provider's stock valued at $17,843,000 after acquiring an additional 182,350 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in Seacoast Banking Corporation of Florida during the 4th quarter valued at about $4,866,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Stephens dropped their target price 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. Hovde Group boosted their target price on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a research note on Wednesday, June 4th. Finally, Keefe, Bruyette & Woods increased their price target on Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Seacoast Banking Corporation of Florida has a consensus rating of "Hold" and an average target price of $29.20.

Seacoast Banking Corporation of Florida Trading Up 2.1%

SBCF traded up $0.56 on Thursday, hitting $26.68. The company had a trading volume of 589,294 shares, compared to its average volume of 436,039. The business's fifty day simple moving average is $24.90 and its 200 day simple moving average is $26.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $31.68. The company has a market cap of $2.29 billion, a PE ratio of 17.91 and a beta of 0.92.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Seacoast Banking Corporation of Florida had a net margin of 15.44% and a return on equity of 6.11%. The firm had revenue of $140.70 million during the quarter, compared to analysts' expectations of $138.41 million. Seacoast Banking Corporation of Florida's quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, June 13th. Seacoast Banking Corporation of Florida's dividend payout ratio is currently 48.32%.

Seacoast Banking Corporation of Florida Company 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.