Voya Investment Management LLC Sells 2,371 Shares of Seacoast Banking Corporation of Florida $SBCF

Voya Investment Management LLC decreased its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 9.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,377 shares of the financial services provider’s stock after selling 2,371 shares during the quarter. Voya Investment Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in Seacoast Banking Corporation of Florida by 36.5% in the 1st quarter. Intech Investment Management LLC now owns 91,340 shares of the financial services provider’s stock worth $2,350,000 after acquiring an additional 24,408 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Seacoast Banking Corporation of Florida during the 1st quarter valued at approximately $4,817,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Seacoast Banking Corporation of Florida by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider’s stock valued at $1,293,000 after purchasing an additional 2,187 shares during the last quarter. Curi RMB Capital LLC increased its position in shares of Seacoast Banking Corporation of Florida by 4.5% during the 1st quarter. Curi RMB Capital LLC now owns 576,469 shares of the financial services provider’s stock valued at $14,833,000 after purchasing an additional 24,690 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Seacoast Banking Corporation of Florida by 123.4% during the 1st quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock valued at $2,133,000 after purchasing an additional 45,792 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SBCF shares. Keefe, Bruyette & Woods boosted their target price 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. Zacks Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report 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 company a “market perform” rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Seacoast Banking Corporation of Florida Price Performance

Shares of SBCF stock opened at $30.50 on Friday. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $32.09. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 18.71 and a beta of 0.98. The stock has a fifty day simple moving average of $29.75 and a two-hundred day simple moving average of $26.94. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36.

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

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 2.4%. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 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.