Envestnet Asset Management Inc. Purchases 2,139 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Envestnet Asset Management Inc. boosted its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 143,979 shares of the financial services provider’s stock after acquiring an additional 2,139 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Seacoast Banking Corporation of Florida worth $3,705,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in Seacoast Banking Corporation of Florida in the 1st quarter worth $27,000. GAMMA Investing LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 460 shares during the period. Sterling Capital Management LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 811.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 2,370 shares during the period. Algert Global LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida in the 4th quarter worth about $212,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Seacoast Banking Corporation of Florida by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,838 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 562 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Trading Down 0.2%

Shares of NASDAQ SBCF opened at $28.76 on Friday. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $31.68. The stock has a market cap of $2.47 billion, a P/E ratio of 17.64 and a beta of 0.94. The firm has a 50-day moving average of $26.91 and a 200 day moving average of $26.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. The business had revenue of $151.40 million during the quarter, compared to analysts’ expectations of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.70%. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, sell-side analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.18 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.72 annualized dividend and a yield of 2.50%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 44.17%.

Analyst Upgrades and Downgrades

SBCF has been the subject of several research analyst reports. Hovde Group raised their target price on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 4th. Keefe, Bruyette & Woods raised their target price on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, June 2nd. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Stephens lowered their price target on shares of Seacoast Banking Corporation 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.20.

About Seacoast Banking Corporation 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.