Westwood Holdings Group Inc. Reduces Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Westwood Holdings Group Inc. lowered its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,246,854 shares of the financial services provider's stock after selling 95,222 shares during the quarter. Westwood Holdings Group Inc. owned 2.63% of Seacoast Banking Co. of Florida worth $61,856,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its holdings in Seacoast Banking Co. of Florida by 112.0% in the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider's stock worth $4,754,000 after purchasing an additional 94,242 shares in the last quarter. ZWJ Investment Counsel Inc. bought a new position in Seacoast Banking Co. of Florida in the fourth quarter worth $203,000. Janney Montgomery Scott LLC raised its holdings in Seacoast Banking Co. of Florida by 24.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider's stock worth $270,000 after purchasing an additional 1,930 shares in the last quarter. Tributary Capital Management LLC raised its holdings in Seacoast Banking Co. of Florida by 44.4% in the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider's stock worth $18,028,000 after purchasing an additional 201,494 shares in the last quarter. Finally, KBC Group NV raised its holdings in Seacoast Banking Co. of Florida by 33.7% in the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock worth $122,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors own 81.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Stephens decreased their price objective 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 cut their target price on 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. Raymond James reissued an "outperform" rating and issued a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. 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 investment 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 MarketBeat.com, Seacoast Banking Co. of Florida currently has an average rating of "Hold" and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Price Performance

SBCF traded down $0.09 on Thursday, hitting $24.61. 277,786 shares of the company's stock traded hands, compared to its average volume of 421,423. The company's 50 day simple moving average is $24.42 and its 200-day simple moving average is $26.90. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 17.21 and a beta of 0.89. Seacoast Banking Co. of Florida has a one year low of $21.36 and a one year high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly 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). The firm had revenue of $140.70 million for the quarter, compared to analysts' expectations 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 business's revenue was up 12.0% on a year-over-year basis. As a group, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. 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 issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.93%. 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 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.