Fisher Asset Management LLC Trims Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Fisher Asset Management LLC cut its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 529,294 shares of the financial services provider’s stock after selling 76,877 shares during the quarter. Fisher Asset Management LLC owned approximately 0.62% of Seacoast Banking Co. of Florida worth $15,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SBCF. First Horizon Advisors Inc. raised its holdings in 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 worth $40,000 after purchasing an additional 520 shares during the period. Diversified Trust Co lifted its position in shares of Seacoast Banking Co. of Florida by 5.8% during the 4th quarter. Diversified Trust Co now owns 13,154 shares of the financial services provider’s stock valued at $374,000 after buying an additional 718 shares in the last quarter. Federated Hermes Inc. grew its stake in Seacoast Banking Co. of Florida by 1.0% in the 3rd quarter. Federated Hermes Inc. now owns 81,672 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 820 shares during the period. GAMMA Investing LLC purchased a new stake in Seacoast Banking Co. of Florida in the 4th quarter worth $25,000. Finally, Mariner LLC raised its position in Seacoast Banking Co. of Florida by 6.3% during the third quarter. Mariner LLC now owns 20,637 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 1,227 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBCF has been the topic of several research analyst reports. Truist Financial dropped 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, April 29th. Hovde Group cut their price objective on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Raymond James raised their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods decreased their price objective on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.10.

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF opened at $24.12 on Monday. Seacoast Banking Co. of Florida has a 52 week low of $17.93 and a 52 week high of $29.98. The stock’s fifty day moving average is $23.94 and its two-hundred day moving average is $24.53. The company has a market capitalization of $2.05 billion, a P/E ratio of 17.23 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, June 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 51.43%.

Seacoast Banking Co. of Florida Profile

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.