Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Bought by Comerica Bank

Comerica Bank raised its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,173 shares of the financial services provider’s stock after buying an additional 946 shares during the period. Comerica Bank’s holdings in Seacoast Banking Co. of Florida were worth $1,023,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted 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 purchasing an additional 679 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $34,000. Sterling Capital Management LLC lifted its stake in Seacoast Banking Co. of Florida by 811.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 2,370 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $76,000. Finally, KBC Group NV lifted its stake in Seacoast Banking Co. of Florida by 33.7% in the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 1,121 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBCF has been the topic of several analyst reports. StockNews.com lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Tuesday, May 6th. Stephens reduced their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price target on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Raymond James reaffirmed an “outperform” rating and set a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida has an average rating of “Hold” and an average price target of $29.40.

Seacoast Banking Co. of Florida Stock Up 3.7%

Shares of NASDAQ SBCF opened at $25.66 on Tuesday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 17.94 and a beta of 0.89. 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 $21.36 and a 52-week high of $31.68. The business’s 50 day moving average is $24.44 and its two-hundred day moving average is $26.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The firm had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.41 million. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. Seacoast Banking Co. of Florida’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida’s payout ratio is 48.32%.

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.