Seacoast Banking Corporation of Florida $SBCF Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 5.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 953,894 shares of the financial services provider’s stock after acquiring an additional 50,417 shares during the period. Charles Schwab Investment Management Inc. owned 1.11% of Seacoast Banking Corporation of Florida worth $24,544,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. increased its holdings in Seacoast Banking Corporation of Florida by 27.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider’s stock valued at $73,834,000 after purchasing an additional 622,709 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Seacoast Banking Corporation of Florida in the 4th quarter valued at approximately $6,850,000. Invesco Ltd. increased its holdings in Seacoast Banking Corporation 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 last quarter. Nuveen Asset Management LLC increased its holdings in Seacoast Banking Corporation 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 last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Seacoast Banking Corporation of Florida in the 4th quarter valued at approximately $4,866,000. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Price Performance

Seacoast Banking Corporation of Florida stock opened at $29.48 on Thursday. The firm has a market cap of $2.59 billion, a PE ratio of 18.09 and a beta of 0.98. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $31.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $27.99 and its two-hundred day moving average is $26.49.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results 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 company had revenue of $151.40 million for the quarter, compared to analyst estimates of $146.08 million. During the same period in the prior year, the business earned $0.36 EPS. On average, research 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 declared 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 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida’s payout ratio is 44.17%.

Wall Street Analyst Weigh In

SBCF has been the subject of several research reports. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods lifted their target price on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Stephens reduced their target price on shares of Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Finally, 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 report on Wednesday, June 4th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.40.

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.