Aberdeen Group plc Has $25.46 Million Holdings in Seacoast Banking Corporation of Florida $SBCF

Key Points

• Aberdeen Group plc increased its stake in Seacoast Banking Corporation of Florida to approximately $25.46 million following a 7.0% increase in shares during the first quarter.
• Seacoast Banking Corporation's recent quarterly earnings exceeded expectations, reporting $0.52 EPS, which is a 10 cent increase over analysts' estimates.
• The company declared a quarterly dividend of $0.18 per share, reflecting a 2.4% dividend yield, with payout scheduled for September 30.

Aberdeen Group plc grew its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 989,412 shares of the financial services provider's stock after buying an additional 65,070 shares during the quarter. Aberdeen Group plc owned approximately 1.15% of Seacoast Banking Corporation of Florida worth $25,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SBCF. Westwood Holdings Group Inc. lifted its holdings in shares of Seacoast Banking Corporation of Florida by 27.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider's stock valued at $73,834,000 after buying an additional 622,709 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 1st quarter valued at about $12,454,000. Raymond James Financial Inc. acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 4th quarter valued at about $6,850,000. Invesco Ltd. lifted its holdings in shares of Seacoast Banking Corporation of Florida by 94.5% during the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider's stock valued at $11,163,000 after buying an additional 197,067 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 39.1% during the 4th 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 during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Performance

NASDAQ SBCF traded up $1.80 during trading on Friday, hitting $30.97. The company's stock had a trading volume of 1,264,864 shares, compared to its average volume of 686,193. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $28.18 and a 200 day moving average price of $26.50. The firm has a market cap of $2.72 billion, a P/E ratio of 19.00 and a beta of 0.98. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $31.68.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $151.40 million for the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%.During the same period in the previous year, the business posted $0.36 EPS. Equities research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida's payout ratio is currently 44.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SBCF shares. Zacks Research upgraded Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a report on Thursday. Keefe, Bruyette & Woods raised their price objective on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Hovde Group raised their price objective 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. Stephens cut their price objective on Seacoast Banking Corporation 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. Finally, Wall Street Zen raised Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.40.

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.