Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 30.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,417 shares of the financial services provider's stock after selling 49,413 shares during the period. Lord Abbett & CO. LLC owned 0.13% of Seacoast Banking Co. of Florida worth $3,150,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of Seacoast Banking Co. of Florida by 154.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 679 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at approximately $34,000. Sterling Capital Management LLC increased its position in 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 period. Venturi Wealth Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter worth approximately $76,000. Finally, KBC Group NV grew its position 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 buying an additional 1,121 shares during the period. 81.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. 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 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 Friday, April 25th. Stephens dropped their target price on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods reduced their price objective on Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Stock Down 1.4 %

SBCF traded down $0.34 during trading on Wednesday, hitting $23.71. The stock had a trading volume of 364,357 shares, compared to its average volume of 423,084. The company has a market capitalization of $2.03 billion, a PE ratio of 16.58 and a beta of 0.97. Seacoast Banking Co. of Florida has a twelve month low of $21.36 and a twelve month high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day simple moving average of $24.96 and a two-hundred day simple moving average of $27.12.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $138.41 million. Seacoast Banking Co. of Florida's revenue was up 12.0% compared to the same quarter last year. On average, research analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.18 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.04%. Seacoast Banking Co. of Florida's payout ratio 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.