Invesco Ltd. Buys 197,067 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Invesco Ltd. raised its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 94.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 405,500 shares of the financial services provider's stock after buying an additional 197,067 shares during the period. Invesco Ltd. owned about 0.47% of Seacoast Banking Co. of Florida worth $11,163,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SBCF. Smartleaf Asset Management LLC increased its stake in shares of 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 period. Kestra Investment Management LLC purchased a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC purchased a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $76,000. KBC Group NV increased its stake in shares of Seacoast Banking Co. of Florida by 33.7% during the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock valued at $122,000 after buying an additional 1,121 shares during the period. Finally, Inceptionr LLC purchased a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $200,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SBCF shares. StockNews.com cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Friday. Stephens reduced 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 note on Monday. 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. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $29.40.

Seacoast Banking Co. of Florida Stock Down 0.2 %

NASDAQ:SBCF traded down $0.05 during trading hours on Monday, reaching $23.68. 533,081 shares of the company traded hands, compared to its average volume of 424,343. The business's 50-day moving average price is $25.15 and its two-hundred day moving average price is $27.16. The stock has a market capitalization of $2.03 billion, a P/E ratio of 16.56 and a beta of 0.97. Seacoast Banking Co. of Florida has a 1 year low of $21.36 and a 1 year high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16.

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

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is presently 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.