Millennium Management LLC Has $447,000 Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Millennium Management LLC trimmed its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 53.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,234 shares of the financial services provider's stock after selling 19,011 shares during the period. Millennium Management LLC's holdings in Seacoast Banking Co. of Florida were worth $447,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Seacoast Banking Co. of Florida by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,068 shares of the financial services provider's stock valued at $1,323,000 after buying an additional 1,803 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $4,866,000. Focus Partners Wealth lifted its position in shares of Seacoast Banking Co. of Florida by 13.7% in the 4th quarter. Focus Partners Wealth now owns 12,208 shares of the financial services provider's stock valued at $336,000 after acquiring an additional 1,469 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in Seacoast Banking Co. of Florida by 0.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,011,523 shares of the financial services provider's stock worth $55,377,000 after purchasing an additional 14,536 shares during the period. Finally, Element Pointe Advisors LLC boosted its stake in Seacoast Banking Co. of Florida by 114.9% in the 4th quarter. Element Pointe Advisors LLC now owns 48,650 shares of the financial services provider's stock worth $1,339,000 after purchasing an additional 26,011 shares during the period. Institutional investors and hedge funds own 81.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SBCF. Stephens reduced their target price 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. Keefe, Bruyette & Woods upped their price target on Seacoast Banking Co. of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Hovde Group raised their price objective on Seacoast Banking Co. of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note 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 data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $29.20.

Seacoast Banking Co. of Florida Stock Down 1.8%

Shares of Seacoast Banking Co. of Florida stock traded down $0.46 on Friday, hitting $25.15. 48,465 shares of the company traded hands, compared to its average volume of 431,475. 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 quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.16 billion, a PE ratio of 17.56 and a beta of 0.92. The company has a 50-day moving average price of $24.43 and a 200 day moving average price of $26.46.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The business had revenue of $140.70 million during the quarter, compared to analyst estimates 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 company's revenue was up 12.0% compared to the same quarter last year. Sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is 48.32%.

Seacoast Banking Co. 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.