Salzhauer Michael Trims Stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Salzhauer Michael reduced its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCFFree Report) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,614 shares of the financial services provider’s stock after selling 22,067 shares during the period. Seacoast Banking Corporation of Florida accounts for 1.9% of Salzhauer Michael’s portfolio, making the stock its 11th largest position. Salzhauer Michael owned approximately 0.22% of Seacoast Banking Corporation of Florida worth $4,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Seacoast Banking Corporation of Florida by 182.3% during the 4th quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider’s stock valued at $18,730,000 after buying an additional 439,346 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Seacoast Banking Corporation of Florida during the 4th quarter valued at about $6,850,000. Invesco Ltd. boosted its stake in Seacoast Banking Corporation of Florida by 94.5% during the fourth quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider’s stock worth $11,163,000 after acquiring an additional 197,067 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Seacoast Banking Corporation of Florida by 39.1% in the fourth quarter. Nuveen Asset Management LLC now owns 648,144 shares of the financial services provider’s stock worth $17,843,000 after purchasing an additional 182,350 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in Seacoast Banking Corporation of Florida in the fourth quarter worth about $4,866,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Stock Up 0.3%

Shares of Seacoast Banking Corporation of Florida stock opened at $26.12 on Thursday. The company has a 50-day simple moving average of $24.90 and a two-hundred day simple moving average of $26.16. The stock has a market capitalization of $2.25 billion, a PE ratio of 17.53 and a beta of 0.92. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $31.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCFGet Free Report) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). Seacoast Banking Corporation of Florida had a net margin of 15.44% and a return on equity of 6.11%. The firm had revenue of $140.70 million for the quarter, compared to the consensus estimate of $138.41 million. Seacoast Banking Corporation of Florida’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, June 13th. Seacoast Banking Corporation of Florida’s payout ratio is 48.32%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, June 2nd. Wall Street Zen lowered Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. Hovde Group lifted their price objective on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a “market perform” rating in a research note on Wednesday, June 4th. Finally, Stephens dropped their target price on Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Seacoast Banking Corporation of Florida presently has a consensus rating of “Hold” and a consensus target price of $29.20.

Get Our Latest Analysis on Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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