Ameriprise Financial Inc. Sells 25,171 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Ameriprise Financial Inc. reduced its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,070 shares of the financial services provider's stock after selling 25,171 shares during the period. Ameriprise Financial Inc. owned about 0.45% of Seacoast Banking Co. of Florida worth $10,518,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Seacoast Banking Co. of Florida by 182.3% during the 4th quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider's stock worth $18,730,000 after buying an additional 439,346 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Seacoast Banking Co. of Florida during the fourth quarter worth about $6,850,000. Tributary Capital Management LLC boosted its position in Seacoast Banking Co. of Florida by 44.4% during the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider's stock valued at $18,028,000 after purchasing an additional 201,494 shares during the last quarter. Invesco Ltd. grew its stake in Seacoast Banking Co. of Florida by 94.5% in the fourth quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider's stock valued at $11,163,000 after purchasing an additional 197,067 shares in the last quarter. Finally, North Reef Capital Management LP increased its position in shares of Seacoast Banking Co. of Florida by 3.7% during the 4th quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider's stock worth $116,452,000 after purchasing an additional 150,000 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock traded down $0.04 during mid-day trading on Friday, hitting $24.57. 279,655 shares of the company's stock traded hands, compared to its average volume of 422,204. Seacoast Banking Co. of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 17.18 and a beta of 0.89. The firm has a 50 day simple moving average of $24.36 and a two-hundred day simple moving average of $26.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85.

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). 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 for the quarter, compared to analyst estimates of $138.41 million. The business's revenue was up 12.0% on a year-over-year basis. On average, research analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS 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 dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.93%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is currently 48.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James reissued an "outperform" rating and issued a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Stephens dropped their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Wall Street Zen downgraded shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Finally, Keefe, Bruyette & Woods lowered their price objective 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 note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $29.40.

Seacoast Banking Co. 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.