Seacoast Banking Corporation of Florida $SBCF Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 5.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 381,833 shares of the financial services provider’s stock after selling 23,667 shares during the period. Invesco Ltd. owned approximately 0.44% of Seacoast Banking Corporation of Florida worth $9,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Seacoast Banking Corporation of Florida by 2.8% in 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 buying an additional 11,674 shares during the period. GAMMA Investing LLC lifted its holdings in Seacoast Banking Corporation of Florida by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 460 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 valued at $4,831,000 after acquiring an additional 26,631 shares during the period. Orca Wealth Management LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the 1st quarter worth $445,000. Finally, SG Americas Securities LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the 1st quarter worth $471,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ:SBCF opened at $30.97 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85. The business’s fifty day moving average price is $28.18 and its two-hundred day moving average price is $26.48. The stock has a market cap of $2.72 billion, a PE ratio of 19.00 and a beta of 0.98. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $31.68.

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 analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 44.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Stephens decreased their price objective 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. 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. Zacks Research upgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a report on Thursday. Hovde Group raised their price objective on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a “market perform” rating in a research note on Wednesday, June 4th. Finally, Keefe, Bruyette & Woods lifted their price objective on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.