Trexquant Investment LP Takes $1.31 Million Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Trexquant Investment LP acquired a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 47,597 shares of the financial services provider's stock, valued at approximately $1,310,000. Trexquant Investment LP owned 0.06% of Seacoast Banking Co. of Florida as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of Seacoast Banking Co. of Florida by 97.8% in the third quarter. BNP Paribas Financial Markets now owns 34,238 shares of the financial services provider's stock worth $912,000 after buying an additional 16,930 shares during the period. Jane Street Group LLC grew its stake in Seacoast Banking Co. of Florida by 35.0% during the 3rd quarter. Jane Street Group LLC now owns 105,808 shares of the financial services provider's stock valued at $2,820,000 after acquiring an additional 27,403 shares in the last quarter. State Street Corp increased its holdings in shares of Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. State Street Corp now owns 4,239,308 shares of the financial services provider's stock valued at $112,978,000 after purchasing an additional 28,066 shares during the period. Principal Financial Group Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 410,632 shares of the financial services provider's stock worth $11,305,000 after purchasing an additional 12,142 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $341,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBCF has been the topic of several research analyst reports. Raymond James restated an "outperform" rating and set a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Stephens boosted their price target on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, March 3rd. Finally, StockNews.com raised shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research report on Friday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $30.00.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ:SBCF traded up $0.49 during midday trading on Tuesday, hitting $22.75. The company's stock had a trading volume of 59,078 shares, compared to its average volume of 422,786. Seacoast Banking Co. of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68. 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 stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 15.89 and a beta of 0.97. The stock's 50 day simple moving average is $26.37 and its 200 day simple moving average is $27.36.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping analysts' consensus estimates 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%. As a group, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is presently 50.35%.

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.