Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 382,070 shares of the financial services provider’s stock after selling 25,171 shares during the period. Ameriprise Financial Inc. owned 0.45% of Seacoast Banking Co. of Florida worth $10,518,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SBCF. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 3.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 380 shares during the period. Mariner LLC raised its stake in shares of Seacoast Banking Co. of Florida by 2.8% during the 4th quarter. Mariner LLC now owns 15,132 shares of the financial services provider’s stock worth $417,000 after buying an additional 407 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Seacoast Banking Co. of Florida by 6.0% in the fourth quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 478 shares in the last quarter. Synovus Financial Corp grew its holdings in Seacoast Banking Co. of Florida by 1.6% during the 4th quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider’s stock valued at $915,000 after buying an additional 539 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Seacoast Banking Co. of Florida by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,838 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 562 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SBCF shares. Stephens dropped their target price on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods cut their price objective on Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Raymond James reaffirmed an “outperform” rating and set a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Finally, StockNews.com downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.40.

Seacoast Banking Co. of Florida Trading Down 0.5%

Seacoast Banking Co. of Florida stock opened at $25.72 on Tuesday. 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. The firm’s 50-day moving average is $24.44 and its 200-day moving average is $26.92. The company has a market cap of $2.21 billion, a P/E ratio of 17.99 and a beta of 0.89.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.41 million. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, equities analysts expect that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.18 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.80%. Seacoast Banking Co. of Florida’s payout ratio is 48.32%.

About Seacoast Banking Co. of Florida

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.