Hsbc Holdings PLC Boosts Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Hsbc Holdings PLC grew its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 17.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,357 shares of the financial services provider’s stock after acquiring an additional 3,045 shares during the period. Hsbc Holdings PLC’s holdings in Seacoast Banking Co. of Florida were worth $558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SBCF. Smartleaf Asset Management LLC raised its stake in shares of Seacoast Banking Co. of Florida by 154.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $31,000 after buying an additional 679 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC boosted its position in Seacoast Banking Co. of Florida by 811.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 2,370 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter worth approximately $76,000. Finally, KBC Group NV increased its holdings in shares of Seacoast Banking Co. of Florida by 33.7% during the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF opened at $24.28 on Wednesday. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.98 and a beta of 0.89. Seacoast Banking Co. of Florida has a 52 week low of $21.36 and a 52 week high of $31.68. The firm has a 50-day simple moving average of $24.67 and a 200-day simple moving average of $27.02. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The business had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. Seacoast Banking Co. of Florida’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida’s payout ratio is currently 48.32%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SBCF. Raymond James reissued an “outperform” rating and set a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. StockNews.com cut Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Tuesday. Stephens cut their price target on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and a consensus target price of $29.40.

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.