Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Salzhauer Michael

Salzhauer Michael reduced its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 8.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 206,681 shares of the financial services provider's stock after selling 18,000 shares during the period. Seacoast Banking Co. of Florida comprises 2.0% of Salzhauer Michael's investment portfolio, making the stock its 11th biggest position. Salzhauer Michael owned approximately 0.24% of Seacoast Banking Co. of Florida worth $5,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC raised 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 worth $31,000 after acquiring an additional 679 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC increased its position in shares of Seacoast Banking Co. of Florida by 811.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock valued at $73,000 after buying an additional 2,370 shares during the period. Venturi Wealth Management LLC purchased a new stake in Seacoast Banking Co. of Florida in the fourth quarter worth $76,000. Finally, KBC Group NV raised its holdings in Seacoast Banking Co. of Florida by 33.7% in the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider's stock worth $122,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors own 81.77% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SBCF. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a report on Friday, April 11th. Raymond James reaffirmed 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 report on Wednesday, January 29th. Finally, Stephens lifted their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.00.

Seacoast Banking Co. of Florida Stock Up 2.7 %

Shares of SBCF stock traded up $0.61 on Tuesday, hitting $23.11. The stock had a trading volume of 108,711 shares, compared to its average volume of 423,431. Seacoast Banking Co. of Florida has a one year low of $21.36 and a one year high of $31.68. The business has a 50 day moving average price of $25.72 and a 200 day moving average price of $27.24. The company has a market cap of $1.98 billion, a PE ratio of 16.15 and a beta of 0.97. The company has a quick ratio of 0.85, a current 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 Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. Research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.12%. Seacoast Banking Co. of Florida's payout ratio is 50.35%.

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.