IFP Advisors Inc Buys 994 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

IFP Advisors Inc boosted its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 343.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,283 shares of the financial services provider’s stock after buying an additional 994 shares during the quarter. IFP Advisors Inc’s holdings in Seacoast Banking Corporation of Florida were worth $33,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SBCF. Principal Financial Group Inc. raised its stake in shares of Seacoast Banking Corporation of Florida by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 422,306 shares of the financial services provider’s stock worth $10,866,000 after purchasing an additional 11,674 shares during the period. GAMMA Investing LLC increased its holdings in Seacoast Banking Corporation of Florida by 38.0% during the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after buying an additional 460 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Seacoast Banking Corporation of Florida by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 175,497 shares of the financial services provider’s stock worth $4,831,000 after buying an additional 26,631 shares during the last quarter. SG Americas Securities LLC bought a new stake in Seacoast Banking Corporation of Florida in the first quarter worth about $471,000. Finally, Teacher Retirement System of Texas purchased a new position in Seacoast Banking Corporation of Florida in the first quarter valued at about $410,000. 81.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SBCF. Hovde Group raised their price target 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 note on Wednesday, June 4th. Keefe, Bruyette & Woods increased their price objective on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Stephens dropped their price target on Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.40.

Seacoast Banking Corporation of Florida Stock Down 0.1%

Seacoast Banking Corporation of Florida stock opened at $28.19 on Friday. The firm has a 50 day simple moving average of $27.18 and a 200 day simple moving average of $26.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. Seacoast Banking Corporation of Florida has a 1-year low of $21.36 and a 1-year high of $31.68. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 17.29 and a beta of 0.94.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $151.40 million during the quarter, compared to analyst estimates of $146.08 million. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%. During the same period last year, the company earned $0.36 earnings per share. On average, analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The business 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida’s payout ratio is presently 44.17%.

Seacoast Banking Corporation 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.