Seacoast Banking Co. of Florida (NASDAQ:SBCF) Stock Position Lifted by Northern Trust Corp

Northern Trust Corp boosted its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 929,697 shares of the financial services provider's stock after acquiring an additional 55,930 shares during the quarter. Northern Trust Corp owned about 1.09% of Seacoast Banking Co. of Florida worth $25,595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Seacoast Banking Co. of Florida by 182.3% during the 4th quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider's stock valued at $18,730,000 after buying an additional 439,346 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at about $6,850,000. Tributary Capital Management LLC raised its stake in shares of Seacoast Banking Co. of Florida by 44.4% during the 4th quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider's stock valued at $18,028,000 after buying an additional 201,494 shares during the last quarter. Invesco Ltd. raised its stake in shares of 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 valued at $11,163,000 after buying an additional 197,067 shares during the last quarter. Finally, North Reef Capital Management LP raised its stake in shares of Seacoast Banking Co. of Florida by 3.7% during the 4th quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider's stock valued at $116,452,000 after buying an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 81.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SBCF shares. Raymond James restated an "outperform" rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. StockNews.com lowered Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Stephens cut their price target on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price target on Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. One equities research 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's stock. According to MarketBeat.com, Seacoast Banking Co. of Florida presently has a consensus rating of "Hold" and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock traded up $0.21 during mid-day trading on Tuesday, reaching $25.87. 320,249 shares of the company were exchanged, compared to its average volume of 422,357. Seacoast Banking Co. of Florida has a twelve month low of $21.36 and a twelve month high of $31.68. The firm's 50-day simple moving average is $24.43 and its two-hundred day simple moving average is $26.96. 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 firm has a market cap of $2.22 billion, a PE ratio of 18.09 and a beta of 0.89.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $140.70 million for the quarter, compared to analyst estimates of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The firm's revenue was up 12.0% compared to the same quarter last year. Equities analysts predict 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 company 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a yield of 2.78%. Seacoast Banking Co. of Florida's dividend payout ratio is presently 48.32%.

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.