Charles Schwab Investment Management Inc. Grows Stake in Seacoast Banking Corporation of Florida $SBCF

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Seacoast Banking Corporation of Florida by 5.6%, acquiring an additional 50,417 shares, bringing its total to 953,894 shares valued at approximately $24.54 million.
• The company reported earnings per share of $0.52 for the last quarter, surpassing analysts' expectations of $0.42, with revenue of $151.40 million.
• Seacoast Banking announced a quarterly dividend of $0.18 per share, representing a 2.4% yield, with the ex-dividend date set for September 15th.

Charles Schwab Investment Management Inc. grew its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 953,894 shares of the financial services provider's stock after purchasing an additional 50,417 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.11% of Seacoast Banking Corporation of Florida worth $24,544,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. North Reef Capital Management LP lifted its holdings in Seacoast Banking Corporation of Florida by 3.7% in the fourth quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider's stock valued at $116,452,000 after buying an additional 150,000 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Seacoast Banking Corporation of Florida by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider's stock valued at $82,195,000 after buying an additional 16,214 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Seacoast Banking Corporation of Florida by 27.7% in 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 acquiring an additional 622,709 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Seacoast Banking Corporation of Florida by 0.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,011,523 shares of the financial services provider's stock valued at $55,377,000 after purchasing an additional 14,536 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 3.2% in the first quarter. Segall Bryant & Hamill LLC now owns 1,916,743 shares of the financial services provider's stock valued at $49,318,000 after purchasing an additional 58,560 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Corporation of Florida Stock Performance

Shares of Seacoast Banking Corporation of Florida stock remained flat at $30.96 during midday trading on Tuesday. The company had a trading volume of 639,331 shares, compared to its average volume of 698,231. 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 market cap of $2.72 billion, a PE ratio of 18.99 and a beta of 0.98. The firm has a 50-day moving average price of $28.43 and a 200 day moving average price of $26.52. 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 posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share 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 quarter in the prior year, the business posted $0.36 EPS. Equities research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

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

Wall Street Analyst Weigh In

SBCF has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Stephens reduced their price target on Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Zacks Research upgraded Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Finally, Hovde Group boosted their target price on Seacoast Banking Corporation 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 investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.