Zurcher Kantonalbank Zurich Cantonalbank Sells 5,858 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 20.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,191 shares of the financial services provider’s stock after selling 5,858 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Seacoast Banking Corporation of Florida were worth $597,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SBCF. Mariner LLC lifted its holdings in shares of Seacoast Banking Corporation 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 acquiring an additional 407 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 38.0% during the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 460 shares during the period. Synovus Financial Corp lifted its holdings in shares of Seacoast Banking Corporation of Florida by 1.6% during the 4th quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider’s stock worth $915,000 after acquiring an additional 539 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Seacoast Banking Corporation of Florida by 6.8% during 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 in the last quarter. Finally, Comerica Bank increased its position in shares of Seacoast Banking Corporation of Florida by 2.6% during the 4th quarter. Comerica Bank now owns 37,173 shares of the financial services provider’s stock worth $1,023,000 after purchasing an additional 946 shares in the last quarter. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Corporation of Florida Stock Down 1.7%

Shares of NASDAQ:SBCF opened at $27.55 on Thursday. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $31.68. The company has a 50 day moving average of $27.42 and a 200-day moving average of $26.41. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 16.90 and a beta of 0.98.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate 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 company had revenue of $151.40 million during the quarter, compared to analysts’ expectations of $146.08 million. During the same quarter in the previous year, the company earned $0.36 EPS. On average, sell-side analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SBCF shares. Hovde Group increased 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. Stephens lowered their price objective 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. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Seacoast Banking Corporation of Florida presently has an average rating of “Hold” and a consensus price target of $29.40.

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.