Sei Investments Co. Increases Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Sei Investments Co. raised its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,387 shares of the financial services provider’s stock after purchasing an additional 3,946 shares during the quarter. Sei Investments Co.’s holdings in Seacoast Banking Co. of Florida were worth $2,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SBCF. Smartleaf Asset Management LLC grew its stake in Seacoast Banking Co. of Florida by 154.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 679 shares in the last quarter. Kestra Investment Management LLC bought a new position in Seacoast Banking Co. of Florida in the fourth quarter worth approximately $34,000. Venturi Wealth Management LLC purchased a new position in Seacoast Banking Co. of Florida during the 4th quarter worth $76,000. KBC Group NV raised its position in 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. Finally, FMR LLC lifted its holdings 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 worth $143,000 after buying an additional 1,960 shares during the period. 81.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on SBCF. StockNews.com lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Thursday. Stephens boosted their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Finally, Raymond James reaffirmed 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Seacoast Banking Co. of Florida Trading Down 3.8 %

NASDAQ SBCF opened at $22.69 on Friday. The company has a 50 day moving average price of $27.29 and a 200 day moving average price of $27.60. The firm has a market cap of $1.94 billion, a PE ratio of 15.87 and a beta of 1.09. 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 has a 52 week low of $21.90 and a 52 week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced 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%. As a group, sell-side analysts forecast 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 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 dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, March 14th. Seacoast Banking Co. of Florida’s 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.