Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Shares Bought by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. raised its stake in Seacoast Banking Corporation of Florida by 27.7%, acquiring an additional 622,709 shares during the first quarter, bringing its total ownership to approximately 3.35% of the company's stock.
• Seacoast Banking Corporation of Florida reported $0.52 EPS for the last quarter, exceeding analysts' expectations of $0.42, alongside a revenue of $151.40 million, surpassing estimates of $146.08 million.
• The company declared a quarterly dividend of $0.18 per share to be paid on September 30, equating to an annualized amount of $0.72 and a dividend yield of 2.6%.

Westwood Holdings Group Inc. grew its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 27.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,869,563 shares of the financial services provider's stock after acquiring an additional 622,709 shares during the period. Westwood Holdings Group Inc. owned about 3.35% of Seacoast Banking Corporation of Florida worth $73,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mariner LLC increased its holdings in Seacoast Banking Corporation of Florida by 2.8% during the fourth quarter. Mariner LLC now owns 15,132 shares of the financial services provider's stock valued at $417,000 after buying an additional 407 shares during the period. GAMMA Investing LLC increased its holdings in 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 buying an additional 460 shares during the period. Synovus Financial Corp increased its holdings in Seacoast Banking Corporation of Florida by 1.6% during the fourth quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider's stock valued at $915,000 after buying an additional 539 shares during the period. Summit Investment Advisors Inc. increased its holdings in Seacoast Banking Corporation of Florida by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,838 shares of the financial services provider's stock valued at $243,000 after buying an additional 562 shares during the period. Finally, Comerica Bank increased its holdings in Seacoast Banking Corporation of Florida by 2.6% during the fourth quarter. Comerica Bank now owns 37,173 shares of the financial services provider's stock valued at $1,023,000 after buying an additional 946 shares during the period. Institutional investors own 81.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Stephens cut their price target on shares of Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods lifted their price target on shares of 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. Finally, Hovde Group lifted 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 report on Wednesday, June 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Seacoast Banking Corporation of Florida presently has a consensus rating of "Hold" and an average price target of $29.40.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF traded up $0.15 during trading hours on Friday, reaching $27.58. 798,003 shares of the company traded hands, compared to its average volume of 688,052. The stock has a market capitalization of $2.37 billion, a P/E ratio of 16.92 and a beta of 0.98. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $31.68. The business has a fifty day moving average price of $27.51 and a 200-day moving average price of $26.42.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. The firm had revenue of $151.40 million for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.36 earnings per share. Equities analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.6%. Seacoast Banking Corporation of Florida's payout ratio is 44.17%.

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.