SG Americas Securities LLC Acquires New Shares 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) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,321 shares of the financial services provider's stock, valued at approximately $471,000.

Several other institutional investors have also recently modified their holdings of the company. North Reef Capital Management LP raised its stake in shares of Seacoast Banking Corporation of Florida by 3.7% during the 4th 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 last quarter. Dimensional Fund Advisors LP grew its holdings 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 worth $82,195,000 after acquiring an additional 16,214 shares during the period. Deprince Race & Zollo Inc. raised its position in Seacoast Banking Corporation of Florida by 0.7% during 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 acquiring an additional 14,536 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in Seacoast Banking Corporation of Florida by 0.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider's stock valued at $51,156,000 after acquiring an additional 11,765 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in Seacoast Banking Corporation of Florida by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,160,182 shares of the financial services provider's stock valued at $31,940,000 after acquiring an additional 27,825 shares during the period. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Price Performance

Shares of Seacoast Banking Corporation of Florida stock traded up $0.80 during mid-day trading on Friday, reaching $27.48. 1,922,840 shares of the stock traded hands, compared to its average volume of 442,781. The stock has a market capitalization of $2.36 billion, a PE ratio of 18.44 and a beta of 0.92. The business has a 50-day moving average of $24.98 and a 200 day moving average of $26.14. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly 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 company had revenue of $140.70 million during the quarter, compared to analysts' expectations of $138.41 million. The business's revenue was up 12.0% compared to the same quarter last year. On average, analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Corporation of Florida's dividend payout ratio is currently 48.32%.

Analyst Upgrades and Downgrades

SBCF has been the subject of several recent research reports. Stephens cut their target price 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 report on Monday, April 28th. Wall Street Zen lowered shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods increased their target price on shares of 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. Finally, 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 report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $29.20.

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.