Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 15.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,275 shares of the financial services provider’s stock after acquiring an additional 2,854 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Seacoast Banking Co. of Florida were worth $605,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at approximately $859,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Seacoast Banking Co. of Florida by 1.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 192,112 shares of the financial services provider’s stock valued at $4,219,000 after acquiring an additional 3,579 shares during the period. Brown Advisory Inc. boosted its position in shares of Seacoast Banking Co. of Florida by 5.9% during the 3rd quarter. Brown Advisory Inc. now owns 375,428 shares of the financial services provider’s stock worth $8,244,000 after purchasing an additional 20,971 shares in the last quarter. Advisor Partners II LLC grew its stake in shares of Seacoast Banking Co. of Florida by 29.7% during the 3rd quarter. Advisor Partners II LLC now owns 29,865 shares of the financial services provider’s stock worth $656,000 after purchasing an additional 6,837 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 39.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Trading Up 1.9 %

Shares of SBCF opened at $23.51 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a 1-year low of $17.93 and a 1-year high of $29.98. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 16.79 and a beta of 1.16. The firm has a 50 day simple moving average of $23.94 and a 200-day simple moving average of $24.46.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.06%. The ex-dividend date is Thursday, June 13th. Seacoast Banking Co. of Florida’s payout ratio is 51.43%.

Wall Street Analyst Weigh In

SBCF has been the topic of several recent analyst reports. Truist Financial lowered their target price on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Monday. Raymond James raised their price objective on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Finally, Hovde Group decreased their target price on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Seacoast Banking Co. of Florida currently has an average rating of “Hold” and a consensus price target of $26.13.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.