Segall Bryant & Hamill LLC Has $49.32 Million Stock Position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Segall Bryant & Hamill LLC boosted its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 3.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,916,743 shares of the financial services provider's stock after purchasing an additional 58,560 shares during the quarter. Seacoast Banking Corporation of Florida comprises 0.8% of Segall Bryant & Hamill LLC's portfolio, making the stock its 14th largest holding. Segall Bryant & Hamill LLC owned approximately 2.24% of Seacoast Banking Corporation of Florida worth $49,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of SBCF. Principal Financial Group Inc. lifted its position in Seacoast Banking Corporation of Florida by 2.8% in the first quarter. Principal Financial Group Inc. now owns 422,306 shares of the financial services provider's stock worth $10,866,000 after purchasing an additional 11,674 shares during the period. GAMMA Investing LLC lifted its position in Seacoast Banking Corporation of Florida by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $43,000 after purchasing an additional 460 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Seacoast Banking Corporation of Florida by 17.9% in the fourth 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 worth $4,831,000 after purchasing an additional 26,631 shares during the period. SG Americas Securities LLC bought a new position in Seacoast Banking Corporation of Florida in the first quarter worth $471,000. Finally, Nuveen Asset Management LLC lifted its position in Seacoast Banking Corporation 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 worth $17,843,000 after purchasing an additional 182,350 shares during the period. 81.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SBCF shares. Keefe, Bruyette & Woods increased their price objective on Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Hovde Group raised their target price on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a research note on Wednesday, June 4th. Wall Street Zen lowered Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Finally, Stephens lowered their target price on Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. 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 company. Based on data from MarketBeat, Seacoast Banking Corporation of Florida presently has an average rating of "Hold" and a consensus price target of $29.20.

Seacoast Banking Corporation of Florida Stock Down 0.5%

Shares of NASDAQ:SBCF traded down $0.16 during trading on Friday, hitting $29.05. 83,046 shares of the company's stock traded hands, compared to its average volume of 450,607. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week 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 0.26. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 19.48 and a beta of 0.94. The company has a 50-day moving average price of $26.51 and a 200-day moving average price of $26.24.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced 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 Corporation of Florida had a net margin of 15.44% and a return on equity of 6.11%. The firm had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.41 million. Seacoast Banking Corporation of Florida's revenue was up 12.0% on a year-over-year basis. As a group, research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Friday, June 13th. Seacoast Banking Corporation of Florida's dividend payout ratio is presently 48.32%.

Seacoast Banking Corporation 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.