Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 27.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 268,932 shares of the financial services provider’s stock after acquiring an additional 57,931 shares during the period. Public Sector Pension Investment Board’s holdings in Seacoast Banking Corporation of Florida were worth $6,920,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at about $27,000. IFP Advisors Inc grew its stake in shares of Seacoast Banking Corporation of Florida by 343.9% during the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 994 shares in the last quarter. GAMMA Investing LLC grew its stake 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 valued at $43,000 after acquiring an additional 460 shares in the last quarter. CWM LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 61.6% during the first quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 1,004 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 811.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 2,370 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Down 1.6%

NASDAQ:SBCF opened at $28.78 on Friday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 17.66 and a beta of 0.98. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $31.68. The stock has a 50-day simple moving average of $27.81 and a 200 day simple moving average of $26.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%. The business had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. During the same period last year, the firm earned $0.36 earnings per share. Sell-side analysts predict 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 Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 44.17%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SBCF. Hovde Group raised their target price 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. Keefe, Bruyette & Woods raised their target price on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Stephens decreased their price target on 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. 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, the company has an average rating of “Hold” and an average 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.