Wells Fargo & Company MN Reduces Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Wells Fargo & Company MN reduced its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 123,124 shares of the financial services provider’s stock after selling 8,906 shares during the period. Wells Fargo & Company MN’s holdings in Seacoast Banking Co. of Florida were worth $3,390,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its stake in Seacoast Banking Co. of Florida by 3.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 380 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Seacoast Banking Co. of Florida by 6.0% in the 4th quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 478 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 1.7% in the 4th quarter. Victory Capital Management Inc. now owns 35,518 shares of the financial services provider’s stock worth $978,000 after purchasing an additional 585 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Seacoast Banking Co. of Florida by 154.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 679 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Seacoast Banking Co. of Florida by 0.3% during the fourth quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider’s stock valued at $7,048,000 after buying an additional 717 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Trading Up 3.2 %

Shares of NASDAQ:SBCF opened at $23.23 on Wednesday. The business’s 50-day moving average is $25.59 and its 200 day moving average is $27.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a 1 year low of $21.36 and a 1 year high of $31.68. The firm has a market capitalization of $1.99 billion, a P/E ratio of 16.24 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data 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 net margin of 14.95% and a return on equity of 5.91%. On average, research 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.10%. Seacoast Banking Co. of Florida’s payout ratio is currently 50.35%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Raymond James reissued 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 increased their price target 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 report on Monday, March 3rd. Finally, StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.00.

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.