Synovus Financial Corp Purchases 539 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Synovus Financial Corp raised its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,235 shares of the financial services provider’s stock after purchasing an additional 539 shares during the quarter. Synovus Financial Corp’s holdings in Seacoast Banking Co. of Florida were worth $915,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SBCF. Geode Capital Management LLC increased its position in shares of Seacoast Banking Co. of Florida by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock valued at $53,959,000 after acquiring an additional 23,396 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in Seacoast Banking Co. of Florida by 0.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider’s stock valued at $51,156,000 after purchasing an additional 11,765 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of Seacoast Banking Co. of Florida by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,160,182 shares of the financial services provider’s stock worth $31,940,000 after purchasing an additional 27,825 shares in the last quarter. Royce & Associates LP raised its stake in shares of Seacoast Banking Co. of Florida by 5.0% in the fourth quarter. Royce & Associates LP now owns 1,077,396 shares of the financial services provider’s stock worth $29,661,000 after purchasing an additional 50,818 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 903,477 shares of the financial services provider’s stock worth $24,873,000 after purchasing an additional 53,666 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Trading Up 1.4 %

Seacoast Banking Co. of Florida stock opened at $22.85 on Thursday. The business has a 50-day simple moving average of $26.11 and a two-hundred day simple moving average of $27.29. Seacoast Banking Co. of Florida has a 52-week low of $21.36 and a 52-week high of $31.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.96 billion, a P/E ratio of 15.98 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates 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%. Analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.18 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.15%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stephens lifted their price objective on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Raymond James restated an “outperform” rating and set a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. 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.