Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,007,904 shares of the financial services provider's stock after selling 16,447 shares during the period. Geode Capital Management LLC owned about 2.35% of Seacoast Banking Co. of Florida worth $55,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its stake in Seacoast Banking Co. of Florida by 244.1% in the 4th quarter. Meeder Asset Management Inc. now owns 15,672 shares of the financial services provider's stock valued at $431,000 after buying an additional 11,118 shares in the last quarter. Heartland Advisors Inc. raised its holdings in shares of Seacoast Banking Co. of Florida by 0.8% during the fourth quarter. Heartland Advisors Inc. now owns 897,031 shares of the financial services provider's stock valued at $24,695,000 after acquiring an additional 7,300 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Seacoast Banking Co. of Florida by 26.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,892 shares of the financial services provider's stock valued at $327,000 after acquiring an additional 2,454 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the fourth quarter worth approximately $341,000. Finally, JPMorgan Chase & Co. increased its position in shares of Seacoast Banking Co. of Florida by 182.3% during the fourth quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider's stock worth $18,730,000 after purchasing an additional 439,346 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBCF has been the topic of several recent research reports. Stephens lifted their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Raymond James reiterated an "outperform" rating and issued a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $30.00.

Seacoast Banking Co. of Florida Trading Up 0.4 %

Seacoast Banking Co. of Florida stock traded up $0.10 during midday trading on Friday, hitting $22.95. 564,082 shares of the stock were exchanged, compared to its average volume of 426,528. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The stock's 50-day simple moving average is $25.99 and its 200 day simple moving average is $27.27. Seacoast Banking Co. of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 16.05 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. On average, equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.18 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 3.14%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is currently 50.35%.

Seacoast Banking Co. 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.