Raymond James Financial Inc. Makes New Investment in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Raymond James Financial Inc. acquired a new stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the 4th quarter, Holdings Channel reports. The firm acquired 248,830 shares of the financial services provider’s stock, valued at approximately $6,850,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Segall Bryant & Hamill LLC raised its stake in Seacoast Banking Co. of Florida by 0.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider’s stock worth $51,156,000 after buying an additional 11,765 shares during the period. William Blair Investment Management LLC raised its position in shares of Seacoast Banking Co. of Florida by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,160,182 shares of the financial services provider’s stock worth $31,940,000 after purchasing an additional 27,825 shares during the period. Royce & Associates LP lifted its holdings in shares of Seacoast Banking Co. of Florida by 5.0% in the 4th quarter. Royce & Associates LP now owns 1,077,396 shares of the financial services provider’s stock worth $29,661,000 after purchasing an additional 50,818 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Seacoast Banking Co. of Florida by 6.3% in the 4th 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 in the last quarter. Finally, Heartland Advisors Inc. grew its position in Seacoast Banking Co. of Florida by 0.8% in the 4th quarter. Heartland Advisors Inc. now owns 897,031 shares of the financial services provider’s stock valued at $24,695,000 after purchasing an additional 7,300 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Up 2.0 %

Seacoast Banking Co. of Florida stock opened at $23.69 on Thursday. 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 cap of $2.03 billion, a PE ratio of 16.57 and a beta of 0.97. Seacoast Banking Co. of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $31.68. The firm’s 50-day simple moving average is $25.48 and its 200 day simple moving average is $27.19.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (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%. Research analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.04%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 50.35%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stephens raised 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 note on Monday, March 3rd. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Raymond James reissued an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida has an average rating of “Hold” and an average target price of $30.00.

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.