First Trust Advisors LP Trims Stock Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

First Trust Advisors LP trimmed its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 15.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,539 shares of the financial services provider's stock after selling 22,291 shares during the period. First Trust Advisors LP owned approximately 0.14% of Seacoast Banking Co. of Florida worth $3,263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its stake in Seacoast Banking Co. 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 valued at $31,000 after buying an additional 679 shares during the last quarter. Kestra Investment Management LLC bought a new position in Seacoast Banking Co. of Florida during the fourth quarter valued at $34,000. Sterling Capital Management LLC increased its position in shares of Seacoast Banking Co. of Florida by 811.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock valued at $73,000 after purchasing an additional 2,370 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida during the fourth quarter valued at $76,000. Finally, KBC Group NV boosted its stake in shares of Seacoast Banking Co. of Florida by 33.7% during the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock worth $122,000 after purchasing an additional 1,121 shares during the period. Institutional investors own 81.77% of the company's stock.

Analyst Upgrades and Downgrades

SBCF has been the subject of a number of research analyst reports. Raymond James reissued an "outperform" rating and set a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. StockNews.com downgraded shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Tuesday. Stephens dropped their price target on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $29.40.

Seacoast Banking Co. of Florida Price Performance

SBCF stock traded down $0.13 during mid-day trading on Friday, reaching $24.79. 41,968 shares of the company's stock were exchanged, compared to its average volume of 420,821. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 17.34 and a beta of 0.89. The stock's 50 day moving average is $24.52 and its 200 day moving average is $26.99. Seacoast Banking Co. of Florida has a 12-month low of $21.36 and a 12-month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The company had revenue of $140.70 million during the quarter, compared to analysts' expectations of $138.41 million. The firm's revenue was up 12.0% on a year-over-year basis. On average, research analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.90%. Seacoast Banking Co. of Florida's payout ratio is 48.32%.

Seacoast Banking Co. 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.