New York State Teachers Retirement System Sells 1,400 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

New York State Teachers Retirement System lowered its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,421 shares of the financial services provider’s stock after selling 1,400 shares during the quarter. New York State Teachers Retirement System’s holdings in Seacoast Banking Co. of Florida were worth $562,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. KBC Group NV lifted its holdings in shares of Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 768 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Seacoast Banking Co. of Florida during the third quarter worth approximately $121,000. FMR LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 57.3% in the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,960 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at approximately $178,000. Finally, ZWJ Investment Counsel Inc. purchased a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter worth approximately $203,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBCF has been the subject of a number of analyst reports. Raymond James restated an “outperform” rating and issued a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Stephens boosted their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Truist Financial dropped their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and an average price target of $29.40.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock opened at $27.91 on Tuesday. 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 company has a market capitalization of $2.38 billion, a PE ratio of 19.52 and a beta of 1.08. The company has a 50 day moving average price of $27.74 and a 200-day moving average price of $27.68. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68.

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

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.18 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.58%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

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.