Seacoast Banking Corporation of Florida $SBCF Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 51.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,800 shares of the financial services provider’s stock after selling 10,557 shares during the period. Hsbc Holdings PLC’s holdings in Seacoast Banking Corporation of Florida were worth $250,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SBCF. Opal Wealth Advisors LLC acquired a new stake in Seacoast Banking Corporation of Florida in the 1st quarter worth about $27,000. IFP Advisors Inc boosted its holdings in Seacoast Banking Corporation of Florida by 343.9% in the 1st quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock worth $33,000 after buying an additional 994 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Seacoast Banking Corporation of Florida by 38.0% in the 1st 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. CWM LLC boosted its holdings in Seacoast Banking Corporation of Florida by 61.6% in the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after buying an additional 1,004 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Seacoast Banking Corporation of Florida in the 4th quarter worth about $212,000. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBCF has been the topic of several recent research reports. Hovde Group boosted their target price 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. Zacks Research upgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Keefe, Bruyette & Woods boosted their target price 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. Finally, Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Seacoast Banking Corporation of Florida Stock Up 2.3%

SBCF stock opened at $31.65 on Friday. The firm has a market cap of $2.78 billion, a PE ratio of 19.42 and a beta of 0.98. 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 firm’s 50 day moving average price is $29.20 and its 200-day moving average price is $26.63. 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 released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. The firm had revenue of $151.40 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company earned $0.36 EPS. On average, equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company 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. This represents a $0.72 annualized dividend and a dividend yield of 2.3%. 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 Company 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.