Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 529,294 shares of the financial services provider’s stock after selling 76,877 shares during the quarter. Fisher Asset Management LLC’s holdings in Seacoast Banking Co. of Florida were worth $15,064,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SBCF. GAMMA Investing LLC purchased a new stake in Seacoast Banking Co. of Florida during the 4th quarter worth about $25,000. First Horizon Advisors Inc. grew its holdings in shares of 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 buying an additional 520 shares in the last quarter. Good Life Advisors LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $205,000. Xcel Wealth Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $238,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Seacoast Banking Co. of Florida during the third quarter valued at approximately $242,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Trading Up 0.9 %

SBCF stock opened at $24.12 on Monday. Seacoast Banking Co. of Florida has a 52 week low of $17.93 and a 52 week high of $29.98. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 17.23 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $23.94 and a 200-day simple moving average of $24.53.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.18 dividend. 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

Several analysts have commented on the stock. Truist Financial lowered their target price on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Raymond James upped their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods decreased their price target on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Hovde Group dropped their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.