Invesco Ltd. Increases Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Invesco Ltd. increased its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 94.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 405,500 shares of the financial services provider’s stock after buying an additional 197,067 shares during the quarter. Invesco Ltd. owned about 0.47% of Seacoast Banking Co. of Florida worth $11,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 112.0% during the 3rd quarter. Barclays PLC now owns 178,355 shares of the financial services provider’s stock valued at $4,754,000 after acquiring an additional 94,242 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the third quarter worth about $459,000. Synovus Financial Corp boosted its position in shares of Seacoast Banking Co. of Florida by 7.9% in the third quarter. Synovus Financial Corp now owns 32,696 shares of the financial services provider’s stock worth $871,000 after buying an additional 2,396 shares during the period. Neville Rodie & Shaw Inc. acquired a new stake in shares of Seacoast Banking Co. of Florida in the fourth quarter valued at about $206,000. Finally, ZWJ Investment Counsel Inc. purchased a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

SBCF opened at $23.23 on Wednesday. The company has a market capitalization of $1.99 billion, a P/E ratio of 16.24 and a beta of 0.97. The company has a 50-day moving average of $25.59 and a 200-day moving average of $27.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Co. of Florida has a 1-year low of $21.36 and a 1-year high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. Equities analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

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 dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.10%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 50.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Friday, April 11th. Stephens raised their target price on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Finally, Raymond James reiterated an “outperform” rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Seacoast Banking Co. of Florida presently has an average rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. 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.