Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 23.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,609 shares of the financial services provider’s stock after acquiring an additional 3,900 shares during the period. Handelsbanken Fonder AB’s holdings in Seacoast Banking Co. of Florida were worth $530,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SBCF. JPMorgan Chase & Co. lifted its stake 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 valued at $18,730,000 after purchasing an additional 439,346 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $6,850,000. Invesco Ltd. lifted its stake in shares of Seacoast Banking Co. of Florida by 94.5% in the 4th quarter. Invesco Ltd. now owns 405,500 shares of the financial services provider’s stock valued at $11,163,000 after purchasing an additional 197,067 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 39.1% in the 4th quarter. Nuveen Asset Management LLC now owns 648,144 shares of the financial services provider’s stock valued at $17,843,000 after purchasing an additional 182,350 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $4,866,000. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock opened at $24.91 on Monday. Seacoast Banking Co. of Florida has a 52-week low of $21.36 and a 52-week high of $31.68. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 17.42 and a beta of 0.92. The company has a fifty day simple moving average of $24.48 and a 200-day simple moving average of $26.37. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. The business had revenue of $140.70 million for the quarter, compared to analysts’ expectations of $138.41 million. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities 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 firm 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, June 13th. Seacoast Banking Co. of Florida’s payout ratio is 48.32%.

Wall Street Analysts Forecast Growth

SBCF has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, June 2nd. Hovde Group upped their price objective on shares of Seacoast Banking Co. of Florida from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 4th. Wall Street Zen cut shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday, May 16th. Finally, Stephens reduced their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.20.

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.