Envestnet Asset Management Inc. Purchases 19,578 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Envestnet Asset Management Inc. raised its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,840 shares of the financial services provider’s stock after acquiring an additional 19,578 shares during the quarter. Envestnet Asset Management Inc. owned about 0.17% of Seacoast Banking Co. of Florida worth $3,905,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Seacoast Banking Co. of Florida by 182.3% in the 4th quarter. JPMorgan Chase & Co. now owns 680,337 shares of the financial services provider’s stock worth $18,730,000 after purchasing an additional 439,346 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Seacoast Banking Co. of Florida in the 4th quarter valued at about $6,850,000. Tributary Capital Management LLC increased its position in shares of Seacoast Banking Co. of Florida by 44.4% during the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock valued at $18,028,000 after acquiring an additional 201,494 shares during the last quarter. Barclays PLC raised its stake 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 worth $4,754,000 after purchasing an additional 94,242 shares during the period. Finally, ExodusPoint Capital Management LP increased its holdings in Seacoast Banking Co. of Florida by 190.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 111,403 shares of the financial services provider’s stock worth $3,067,000 after buying an additional 73,093 shares during the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Up 2.0 %

Shares of NASDAQ:SBCF opened at $23.69 on Thursday. The firm has a fifty day moving average of $25.48 and a 200 day moving average of $27.19. Seacoast Banking Co. of Florida has a 52-week low of $21.36 and a 52-week high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $2.03 billion, a PE ratio of 16.57 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Monday, January 27th. The financial services provider reported $0.48 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%. As a group, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a yield of 3.04%. Seacoast Banking Co. of Florida’s payout ratio is currently 50.35%.

Analysts Set New Price Targets

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