SG Americas Securities LLC Invests $471,000 in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

SG Americas Securities LLC purchased a new position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 18,321 shares of the financial services provider's stock, valued at approximately $471,000.

Several other large investors also recently modified their holdings of SBCF. Smartleaf Asset Management LLC boosted its stake in Seacoast Banking Corporation of Florida by 154.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock worth $31,000 after acquiring an additional 679 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Seacoast Banking Corporation of Florida by 38.0% during the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 460 shares during the period. Sterling Capital Management LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 811.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock valued at $73,000 after buying an additional 2,370 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the 4th quarter valued at about $76,000. Finally, Inceptionr LLC bought a new stake in Seacoast Banking Corporation of Florida in the 4th quarter valued at about $200,000. Institutional investors and hedge funds own 81.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. 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. Keefe, Bruyette & Woods lifted their price target on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Stephens decreased their price target on shares of 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. Finally, Wall Street Zen lowered shares of Seacoast Banking Corporation 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 issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of "Hold" and an average target price of $29.20.

Seacoast Banking Corporation of Florida Stock Up 1.1%

NASDAQ SBCF traded up $0.28 on Tuesday, reaching $26.05. The company had a trading volume of 432,904 shares, compared to its average volume of 434,164. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The company's fifty day moving average is $24.84 and its 200 day moving average is $26.16. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $31.68. The stock has a market capitalization of $2.24 billion, a P/E ratio of 17.48 and a beta of 0.92.

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 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $138.41 million. The company's quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a yield of 2.76%. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is 48.32%.

Seacoast Banking Corporation 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.