Invesco Ltd. Sells 23,667 Shares of Seacoast Banking Corporation of Florida $SBCF

Key Points

• Invesco Ltd. reduced their stake in Seacoast Banking Corporation by 5.8%, now holding approximately 0.44% of the company's shares valued at nearly $9.83 million as of the last reporting period.
• Seacoast Banking Corporation reported earnings of $0.52 per share for the last quarter, surpassing analyst expectations of $0.42, with revenues hitting $151.40 million against an estimate of $146.08 million.
• The company announced a quarterly dividend of $0.18 per share, with an annualized dividend yield of 2.3%, set to be paid on September 30th.

Invesco Ltd. lessened its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 381,833 shares of the financial services provider's stock after selling 23,667 shares during the quarter. Invesco Ltd. owned 0.44% of Seacoast Banking Corporation of Florida worth $9,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SBCF. Mariner LLC increased its stake in Seacoast Banking Corporation 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 acquiring an additional 407 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Seacoast Banking Corporation of Florida by 2.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 92,678 shares of the financial services provider's stock valued at $2,551,000 after buying an additional 1,975 shares during the period. Dimensional Fund Advisors LP boosted its position in Seacoast Banking Corporation of Florida by 0.5% during 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 during the period. MetLife Investment Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 51,176 shares of the financial services provider's stock worth $1,409,000 after purchasing an additional 2,803 shares during the period. Finally, Stifel Financial Corp boosted its holdings in shares of Seacoast Banking Corporation of Florida by 21.7% during the fourth quarter. Stifel Financial Corp now owns 18,044 shares of the financial services provider's stock worth $497,000 after purchasing an additional 3,213 shares during the period. Institutional investors own 81.77% of the company's stock.

Seacoast Banking Corporation of Florida Stock Up 0.9%

Shares of SBCF traded up $0.29 on Friday, hitting $31.26. 194,042 shares of the stock traded hands, compared to its average volume of 520,400. The company has a market capitalization of $2.75 billion, a PE ratio of 19.18 and a beta of 0.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85. The business has a 50 day simple moving average of $28.68 and a 200 day simple moving average of $26.57. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $31.68.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. The company had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. During the same quarter last year, the firm earned $0.36 earnings per share. As a group, equities 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 Announces Dividend

The business also recently announced 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 dividend on an annualized basis 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 44.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SBCF shares. Hovde Group increased their price target on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 4th. Zacks Research raised shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Keefe, Bruyette & Woods raised their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.40.

About Seacoast Banking Corporation 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.