Rhumbline Advisers Sells 10,707 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Rhumbline Advisers cut its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 245,304 shares of the financial services provider's stock after selling 10,707 shares during the period. Rhumbline Advisers owned about 0.29% of Seacoast Banking Co. of Florida worth $6,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Seacoast Banking Co. of Florida by 17.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 175,497 shares of the financial services provider's stock valued at $4,831,000 after purchasing an additional 26,631 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Seacoast Banking Co. of Florida by 39.1% in the fourth quarter. Nuveen Asset Management LLC now owns 648,144 shares of the financial services provider's stock valued at $17,843,000 after buying an additional 182,350 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Seacoast Banking Co. of Florida by 94.5% during the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider's stock worth $11,163,000 after acquiring an additional 197,067 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Seacoast Banking Co. of Florida by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 410,632 shares of the financial services provider's stock worth $11,305,000 after purchasing an additional 12,142 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of Seacoast Banking Co. of Florida by 11.0% during the fourth quarter. Cetera Investment Advisers now owns 12,087 shares of the financial services provider's stock valued at $333,000 after purchasing an additional 1,197 shares during the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Stock Performance

SBCF traded down $0.21 during trading on Thursday, reaching $25.79. 450,932 shares of the company's stock were exchanged, compared to its average volume of 432,954. The company has a market capitalization of $2.22 billion, a P/E ratio of 18.03 and a beta of 0.92. 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 business has a 50 day moving average price of $24.37 and a 200 day moving average price of $26.50. Seacoast Banking Co. of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $138.41 million. Seacoast Banking Co. of Florida's revenue was up 12.0% on a year-over-year basis. As a group, analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio is 48.32%.

Analysts Set New Price Targets

Several analysts have issued reports on SBCF shares. Stephens cut their target price 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 note on Monday, April 28th. Keefe, Bruyette & Woods boosted their price target on shares of Seacoast Banking Co. of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. Wall Street Zen lowered Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Finally, Hovde Group upped their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $29.20.

About Seacoast Banking Co. 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.