Vanguard Group Inc. Decreases Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Vanguard Group Inc. lowered its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,292,507 shares of the financial services provider’s stock after selling 7,498 shares during the quarter. Vanguard Group Inc. owned 0.07% of Seacoast Banking Co. of Florida worth $173,233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Seacoast Banking Co. of Florida by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock valued at $111,144,000 after buying an additional 305,843 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Seacoast Banking Co. of Florida in the fourth quarter valued at about $6,850,000. Tributary Capital Management LLC raised its stake in shares of Seacoast Banking Co. of Florida by 44.4% during the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock valued at $18,028,000 after acquiring an additional 201,494 shares during the last quarter. Barclays PLC boosted its holdings 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 worth $4,754,000 after purchasing an additional 94,242 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Seacoast Banking Co. of Florida by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 903,477 shares of the financial services provider’s stock worth $24,873,000 after purchasing an additional 53,666 shares during the period. Institutional investors own 81.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SBCF shares. Raymond James restated an “outperform” rating and set a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. StockNews.com downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Stephens boosted their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and a consensus target price of $30.00.

Seacoast Banking Co. of Florida Stock Down 3.8 %

Shares of NASDAQ:SBCF opened at $22.69 on Monday. The firm has a market capitalization of $1.94 billion, a P/E ratio of 15.87 and a beta of 0.97. 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 50 day moving average price of $27.29 and a 200-day moving average price of $27.60. Seacoast Banking Co. of Florida has a 52-week low of $21.90 and a 52-week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share (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, equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida’s payout ratio is currently 50.35%.

About Seacoast Banking Co. of Florida

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.