Seacoast Banking Corporation of Florida $SBCF Shares Sold by Raymond James Financial Inc.

Raymond James Financial Inc. lowered its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 0.2% in the first quarter, Holdings Channel.com reports. The fund owned 248,360 shares of the financial services provider’s stock after selling 470 shares during the quarter. Raymond James Financial Inc.’s holdings in Seacoast Banking Corporation of Florida were worth $6,390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Seacoast Banking Corporation of Florida by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 422,306 shares of the financial services provider’s stock valued at $10,866,000 after purchasing an additional 11,674 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 38.0% during the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after buying an additional 460 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Seacoast Banking Corporation of Florida by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 175,497 shares of the financial services provider’s stock valued at $4,831,000 after buying an additional 26,631 shares during the last quarter. Orca Wealth Management LLC purchased a new position in shares of Seacoast Banking Corporation of Florida in the first quarter worth about $445,000. Finally, SG Americas Securities LLC acquired a new position in Seacoast Banking Corporation of Florida during the first quarter worth about $471,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

NASDAQ:SBCF opened at $30.93 on Thursday. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $31.68. The stock’s fifty day moving average is $29.10 and its two-hundred day moving average is $26.61. The company has a market capitalization of $2.72 billion, a P/E ratio of 18.98 and a beta of 0.98. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm 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 return on equity of 6.65% and a net margin of 16.63%.During the same period last year, the company earned $0.36 EPS. Equities analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 44.17%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Zacks Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Hovde Group lifted their price objective on 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. Finally, Keefe, Bruyette & Woods boosted their price objective on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Seacoast Banking Corporation of Florida 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.