MetLife Investment Management LLC Sells 803 Shares of Seacoast Banking Corporation of Florida $SBCF

MetLife Investment Management LLC lessened its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,373 shares of the financial services provider’s stock after selling 803 shares during the period. MetLife Investment Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $1,296,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Seacoast Banking Corporation of Florida in the first quarter valued at approximately $27,000. IFP Advisors Inc increased its stake in Seacoast Banking Corporation of Florida by 343.9% in the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 994 shares in the last quarter. GAMMA Investing LLC increased its stake in Seacoast Banking Corporation of Florida by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 460 shares in the last quarter. CWM LLC increased its stake in Seacoast Banking Corporation of Florida by 61.6% in the first quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 1,004 shares in the last quarter. Finally, Algert Global LLC bought a new stake in shares of Seacoast Banking Corporation of Florida during the fourth quarter worth $212,000. Institutional investors own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SBCF. Keefe, Bruyette & Woods increased their price objective on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Hovde Group increased their price objective on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Zacks Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida has an average rating of “Moderate Buy” and an average target price of $29.40.

Seacoast Banking Corporation of Florida Stock Up 2.3%

Seacoast Banking Corporation of Florida stock opened at $31.65 on Friday. The company has a market cap of $2.78 billion, a P/E ratio of 19.42 and a beta of 0.98. Seacoast Banking Corporation of Florida has a 1-year low of $21.36 and a 1-year high of $31.68. The company has a fifty day simple moving average of $29.20 and a 200 day simple moving average of $26.63. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. During the same quarter last year, the firm earned $0.36 earnings per share. Research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 44.17%.

Seacoast Banking Corporation 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.