Legal & General Group Plc Has $6.55 Million Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Legal & General Group Plc cut its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 237,795 shares of the financial services provider’s stock after selling 7,894 shares during the period. Legal & General Group Plc owned about 0.28% of Seacoast Banking Co. of Florida worth $6,546,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Invesco Ltd. increased its holdings in Seacoast Banking Co. of Florida by 94.5% in the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider’s stock worth $11,163,000 after purchasing an additional 197,067 shares in the last quarter. Bank of Montreal Can boosted its position in Seacoast Banking Co. of Florida by 12.2% during the 4th quarter. Bank of Montreal Can now owns 13,956 shares of the financial services provider’s stock worth $384,000 after buying an additional 1,523 shares during the period. Envestnet Asset Management Inc. grew its holdings in Seacoast Banking Co. of Florida by 16.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 141,840 shares of the financial services provider’s stock worth $3,905,000 after acquiring an additional 19,578 shares during the last quarter. Pitcairn Co. raised its stake in shares of Seacoast Banking Co. of Florida by 25.1% during the fourth quarter. Pitcairn Co. now owns 13,484 shares of the financial services provider’s stock valued at $371,000 after acquiring an additional 2,705 shares during the last quarter. Finally, ExodusPoint Capital Management LP lifted its holdings in shares of Seacoast Banking Co. of Florida by 190.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 111,403 shares of the financial services provider’s stock worth $3,067,000 after purchasing an additional 73,093 shares during the period. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Up 0.4 %

Shares of NASDAQ SBCF opened at $22.95 on Friday. Seacoast Banking Co. of Florida has a 12-month low of $21.36 and a 12-month high of $31.68. 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 firm has a market cap of $1.96 billion, a PE ratio of 16.05 and a beta of 0.97. The company’s fifty day simple moving average is $25.85 and its 200 day simple moving average is $27.26.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.14%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida’s payout ratio is currently 50.35%.

Analyst Ratings Changes

Several brokerages recently issued reports on SBCF. Stephens raised their target price on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Raymond James reissued an “outperform” rating and set a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Friday, April 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida presently has an average rating of “Hold” and an average price target of $30.00.

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.