Seacoast Banking Co. of Florida (NASDAQ:SBCF) Position Cut by Raymond James & Associates

Raymond James & Associates cut its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 91.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,572 shares of the financial services provider's stock after selling 175,257 shares during the period. Raymond James & Associates' holdings in Seacoast Banking Co. of Florida were worth $443,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. First Eagle Investment Management LLC increased its position in shares of Seacoast Banking Co. of Florida by 67.5% during the third quarter. First Eagle Investment Management LLC now owns 350,918 shares of the financial services provider's stock valued at $7,706,000 after acquiring an additional 141,403 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Seacoast Banking Co. of Florida by 31.7% during the third quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider's stock valued at $100,966,000 after acquiring an additional 1,106,724 shares during the last quarter. Deutsche Bank AG increased its position in shares of Seacoast Banking Co. of Florida by 14.0% during the third quarter. Deutsche Bank AG now owns 40,874 shares of the financial services provider's stock valued at $898,000 after acquiring an additional 5,019 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Seacoast Banking Co. of Florida by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,829 shares of the financial services provider's stock valued at $14,885,000 after acquiring an additional 39,183 shares during the last quarter. Finally, Salzhauer Michael increased its position in shares of Seacoast Banking Co. of Florida by 4.2% during the third quarter. Salzhauer Michael now owns 311,643 shares of the financial services provider's stock valued at $6,844,000 after acquiring an additional 12,505 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Stock Down 1.1 %

Shares of SBCF stock traded down $0.26 during trading on Friday, reaching $23.38. The company's stock had a trading volume of 547,139 shares, compared to its average volume of 409,971. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 16.70 and a beta of 1.16. The stock's 50-day moving average price is $24.02 and its 200 day moving average price is $24.40. Seacoast Banking Co. of Florida has a 1-year low of $17.93 and a 1-year high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.05). The business had revenue of $128.16 million during the quarter, compared to analyst estimates of $135.33 million. Seacoast Banking Co. of Florida had a net margin of 15.08% and a return on equity of 5.71%. On average, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.47 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.08%. Seacoast Banking Co. of Florida's dividend payout ratio is currently 51.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Raymond James lifted their price target on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an "outperform" rating in a research report on Tuesday, January 30th. Truist Financial dropped their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a "hold" rating for the company in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $25.63.

Seacoast Banking Co. of Florida Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.