Deprince Race & Zollo Inc. Grows Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Deprince Race & Zollo Inc. lifted its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,011,523 shares of the financial services provider's stock after acquiring an additional 14,536 shares during the quarter. Seacoast Banking Co. of Florida accounts for about 1.1% of Deprince Race & Zollo Inc.'s holdings, making the stock its 18th biggest holding. Deprince Race & Zollo Inc. owned approximately 2.35% of Seacoast Banking Co. of Florida worth $55,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC increased its position in shares of Seacoast Banking Co. of Florida by 112.0% during the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider's stock valued at $4,754,000 after acquiring an additional 94,242 shares in the last quarter. ZWJ Investment Counsel Inc. purchased a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter worth approximately $203,000. Janney Montgomery Scott LLC lifted its holdings in Seacoast Banking Co. of Florida by 24.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider's stock worth $270,000 after buying an additional 1,930 shares during the period. Tributary Capital Management LLC grew its position in shares of Seacoast Banking Co. of Florida by 44.4% in the 4th quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider's stock worth $18,028,000 after buying an additional 201,494 shares during the last quarter. Finally, KBC Group NV increased its stake in 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 valued at $122,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF traded up $0.16 during midday trading on Tuesday, reaching $25.82. 153,000 shares of the company traded hands, compared to its average volume of 421,184. 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 18.06 and a beta of 0.89. Seacoast Banking Co. of Florida has a 12 month low of $21.36 and a 12 month high of $31.68. The stock's 50-day simple moving average is $24.44 and its 200-day simple moving average is $26.97.

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 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The firm had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.41 million. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 2.79%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's payout ratio is 48.32%.

Analysts Set New Price Targets

Several equities analysts have issued reports on SBCF shares. Keefe, Bruyette & Woods decreased their price objective on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Stephens reduced their target price on shares of 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, April 28th. StockNews.com cut shares of Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a research note on Tuesday, May 6th. Finally, Raymond James reiterated an "outperform" rating and set 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. 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 company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.