Jefferies Financial Group Inc. Sells 127,805 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Jefferies Financial Group Inc. reduced its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 72.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,930 shares of the financial services provider’s stock after selling 127,805 shares during the period. Jefferies Financial Group Inc. owned approximately 0.06% of Seacoast Banking Corporation of Florida worth $1,259,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter worth $27,000. IFP Advisors Inc boosted its holdings in Seacoast Banking Corporation of Florida by 343.9% in the 1st 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 during the period. GAMMA Investing LLC grew its position in Seacoast Banking Corporation of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 460 shares during the last quarter. CWM LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 61.6% during the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,004 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 811.6% during 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 during the period. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Corporation of Florida Price Performance

Seacoast Banking Corporation of Florida stock opened at $28.05 on Tuesday. The business has a 50 day simple moving average of $27.32 and a 200 day simple moving average of $26.40. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $31.68. The company has a market capitalization of $2.41 billion, a PE ratio of 17.21 and a beta of 0.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.85 and a quick ratio of 0.85.

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 for the quarter, topping the consensus estimate of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. The firm had revenue of $151.40 million for the quarter, compared to analysts’ expectations of $146.08 million. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, sell-side analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is 44.17%.

Analyst Ratings Changes

SBCF has been the subject of several research reports. Stephens reduced their target price on shares of Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Hovde Group raised 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. Keefe, Bruyette & Woods boosted their price objective on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.40.

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.