Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 70.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 375,529 shares of the financial services provider’s stock after purchasing an additional 155,776 shares during the period. Russell Investments Group Ltd.’s holdings in Seacoast Banking Co. of Florida were worth $10,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth $25,000. First Horizon Advisors Inc. raised its stake in Seacoast Banking Co. of Florida by 39.8% during the third quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 520 shares during the period. Good Life Advisors LLC bought a new position in Seacoast Banking Co. of Florida in the fourth quarter worth about $205,000. Xcel Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida in the fourth quarter worth about $238,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Seacoast Banking Co. of Florida in the third quarter valued at approximately $242,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Trading Up 0.9 %

NASDAQ:SBCF opened at $24.12 on Monday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 17.23 and a beta of 1.17. The business has a fifty day moving average of $23.94 and a 200-day moving average of $24.53. Seacoast Banking Co. of Florida has a 1 year low of $17.93 and a 1 year high of $29.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.99%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 51.43%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial dropped their price target on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Raymond James increased their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Hovde Group reduced their price target on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.10.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.