Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Stock Position Increased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,159 shares of the financial services provider’s stock after buying an additional 1,015 shares during the quarter. Mackenzie Financial Corp’s holdings in Seacoast Banking Corporation of Florida were worth $622,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position 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 valued at $10,866,000 after purchasing an additional 11,674 shares in the last quarter. GAMMA Investing LLC boosted 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Seacoast Banking Corporation of Florida by 17.9% in 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 acquired a new position in Seacoast Banking Corporation of Florida in the first quarter worth approximately $471,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Seacoast Banking Corporation of Florida in the first quarter valued at $410,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBCF. Stephens reduced their price objective on Seacoast Banking Corporation 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 increased their price target on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Hovde Group boosted their price objective on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a “market perform” rating in a report on Wednesday, June 4th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.40.

Seacoast Banking Corporation of Florida Trading Down 1.7%

NASDAQ:SBCF opened at $27.55 on Thursday. The company has a market capitalization of $2.37 billion, a P/E ratio of 16.90 and a beta of 0.98. The stock’s 50 day moving average price is $27.42 and its 200 day moving average price is $26.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $31.68.

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

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida’s payout ratio is 44.17%.

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.