Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,304 shares of the financial services provider's stock after selling 10,707 shares during the quarter. Rhumbline Advisers owned 0.29% of Seacoast Banking Co. of Florida worth $6,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 3.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider's stock valued at $318,000 after buying an additional 380 shares in the last quarter. Mariner LLC grew its stake in shares of Seacoast Banking Co. of Florida by 2.8% in the fourth quarter. Mariner LLC now owns 15,132 shares of the financial services provider's stock valued at $417,000 after buying an additional 407 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Seacoast Banking Co. of Florida by 6.0% in the fourth quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider's stock valued at $231,000 after buying an additional 478 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Seacoast Banking Co. of Florida by 1.6% in the fourth quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider's stock valued at $915,000 after buying an additional 539 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of Seacoast Banking Co. of Florida by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,838 shares of the financial services provider's stock valued at $243,000 after buying an additional 562 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Down 3.4%

NASDAQ SBCF traded down $0.88 during trading on Friday, reaching $24.91. 509,858 shares of the company's stock were exchanged, compared to its average volume of 433,712. The stock has a market cap of $2.14 billion, a P/E ratio of 17.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day moving average price of $24.48 and a two-hundred day moving average price of $26.40. Seacoast Banking Co. of Florida has a 1 year low of $21.36 and a 1 year high of $31.68.

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 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The firm had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.89%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida's payout ratio is 48.32%.

Analyst Ratings Changes

A number of research firms recently issued reports on SBCF. Keefe, Bruyette & Woods lifted their target price on 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. Stephens decreased 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. Hovde Group lifted their target price on Seacoast Banking Co. of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a report on Wednesday, June 4th. Finally, Wall Street Zen lowered Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. One 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 MarketBeat.com, the stock presently 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.