Tower Research Capital LLC TRC Sells 10,838 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Tower Research Capital LLC TRC cut its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 78.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,041 shares of the financial services provider's stock after selling 10,838 shares during the period. Tower Research Capital LLC TRC's holdings in Seacoast Banking Co. of Florida were worth $84,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SBCF. Envestnet Portfolio Solutions Inc. increased its stake in Seacoast Banking Co. of Florida by 3.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider's stock worth $318,000 after acquiring an additional 380 shares during the last quarter. Mariner LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 2.8% in the 4th quarter. Mariner LLC now owns 15,132 shares of the financial services provider's stock worth $417,000 after purchasing an additional 407 shares during the period. CIBC Asset Management Inc increased its position in shares of Seacoast Banking Co. of Florida by 6.0% during the 4th quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 478 shares during the last quarter. Synovus Financial Corp raised its holdings in Seacoast Banking Co. of Florida by 1.6% during the 4th quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider's stock valued at $915,000 after buying an additional 539 shares during the period. Finally, Summit Investment Advisors Inc. lifted its position in Seacoast Banking Co. of Florida by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,838 shares of the financial services provider's stock worth $243,000 after buying an additional 562 shares during the last quarter. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Stock Down 0.7 %

Shares of NASDAQ:SBCF opened at $24.75 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $24.47 and its 200 day moving average is $26.97. The stock has a market cap of $2.12 billion, a P/E ratio of 17.31 and a beta of 0.89. Seacoast Banking Co. of Florida has a 52-week low of $21.36 and a 52-week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate 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 quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is 48.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SBCF shares. Raymond James reissued 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 research note on Wednesday, January 29th. Stephens decreased their price objective 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 research note on Monday, April 28th. Keefe, Bruyette & Woods cut their target price on Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, StockNews.com cut Seacoast Banking Co. of Florida from a "hold" rating to a "sell" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida has an average rating of "Hold" and an average target price of $29.40.

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.

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