Wells Fargo & Company MN Decreases Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Wells Fargo & Company MN decreased its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,124 shares of the financial services provider’s stock after selling 8,906 shares during the quarter. Wells Fargo & Company MN owned 0.14% of Seacoast Banking Co. of Florida worth $3,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its holdings in Seacoast Banking Co. of Florida by 154.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 679 shares during the period. Kestra Investment Management LLC bought a new position in shares of Seacoast Banking Co. of Florida in the fourth quarter worth about $34,000. Venturi Wealth Management LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth about $76,000. KBC Group NV raised its stake in Seacoast Banking Co. of Florida by 33.7% during the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,121 shares during the period. Finally, Inceptionr LLC bought a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at approximately $200,000. Institutional investors own 81.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SBCF shares. Stephens upped their price target on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Friday, April 11th. 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Seacoast Banking Co. of Florida Trading Up 3.2 %

Shares of SBCF opened at $23.23 on Wednesday. The stock has a market capitalization of $1.99 billion, a PE ratio of 16.24 and a beta of 0.97. The company’s fifty day moving average is $25.59 and its 200 day moving average is $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 fifty-two week low of $21.36 and a fifty-two week high of $31.68.

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

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 50.35%.

Seacoast Banking Co. 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.