Louisiana State Employees Retirement System Takes Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Louisiana State Employees Retirement System bought a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 42,600 shares of the financial services provider’s stock, valued at approximately $1,212,000. Louisiana State Employees Retirement System owned approximately 0.05% of Seacoast Banking Co. of Florida as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SBCF. SG Americas Securities LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at about $859,000. Ziegler Capital Management LLC raised its stake in shares of Seacoast Banking Co. of Florida by 1.3% in the 3rd quarter. Ziegler Capital Management LLC now owns 288,586 shares of the financial services provider’s stock valued at $6,338,000 after purchasing an additional 3,585 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 13.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,987 shares of the financial services provider’s stock valued at $1,120,000 after purchasing an additional 6,082 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 1.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 192,112 shares of the financial services provider’s stock valued at $4,219,000 after purchasing an additional 3,579 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 5.9% in the 3rd quarter. Brown Advisory Inc. now owns 375,428 shares of the financial services provider’s stock valued at $8,244,000 after purchasing an additional 20,971 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

SBCF opened at $23.18 on Tuesday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 18.69 and a beta of 1.16. Seacoast Banking Co. of Florida has a fifty-two week low of $17.93 and a fifty-two week high of $29.98. The company’s 50-day moving average price is $24.10 and its 200 day moving average price is $24.38. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 5.04% and a net margin of 13.54%. The firm had revenue of $128.16 million during the quarter, compared to the consensus estimate of $135.33 million. As a group, sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.47 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Friday, June 14th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 58.06%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SBCF shares. Truist Financial dropped their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Raymond James increased their price objective on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.63.

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.