Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stake Lifted by North Reef Capital Management LP

North Reef Capital Management LP grew its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,230,000 shares of the financial services provider's stock after acquiring an additional 150,000 shares during the period. Seacoast Banking Co. of Florida comprises 5.2% of North Reef Capital Management LP's investment portfolio, making the stock its 7th biggest holding. North Reef Capital Management LP owned approximately 4.95% of Seacoast Banking Co. of Florida worth $116,452,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Invesco Ltd. increased its stake in Seacoast Banking Co. of Florida by 94.5% during the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider's stock worth $11,163,000 after buying an additional 197,067 shares during the period. Principal Financial Group Inc. increased its stake in Seacoast Banking Co. of Florida by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 410,632 shares of the financial services provider's stock worth $11,305,000 after buying an additional 12,142 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Seacoast Banking Co. of Florida during the 4th quarter worth approximately $341,000. Raymond James Financial Inc. purchased a new stake in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at approximately $6,850,000. Finally, New York State Common Retirement Fund increased its position in shares of Seacoast Banking Co. of Florida by 3.1% in the 4th quarter. New York State Common Retirement Fund now owns 229,913 shares of the financial services provider's stock valued at $6,330,000 after purchasing an additional 7,012 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF traded down $0.30 during trading hours on Wednesday, reaching $23.75. 104,446 shares of the company traded hands, compared to its average volume of 421,924. The firm's 50-day moving average is $25.05 and its 200-day moving average is $27.14. The stock has a market cap of $2.03 billion, a P/E ratio of 16.61 and a beta of 0.97. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a 1-year low of $21.36 and a 1-year 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 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% on a year-over-year basis. Equities research analysts expect that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio is presently 48.32%.

Analysts Set New Price Targets

A number of equities research analysts have commented on SBCF shares. Stephens dropped their price objective on shares of 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. StockNews.com cut shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Raymond James restated an "outperform" rating and issued a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $29.40.

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.