Seacoast Banking Corporation of Florida $SBCF Stock Position Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,651 shares of the financial services provider’s stock after purchasing an additional 3,661 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Seacoast Banking Corporation of Florida worth $1,398,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the first quarter worth $27,000. IFP Advisors Inc grew its stake in shares of Seacoast Banking Corporation of Florida by 343.9% in the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 994 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 worth $43,000 after purchasing an additional 460 shares in the last quarter. CWM LLC grew its stake in shares of Seacoast Banking Corporation of Florida by 61.6% in the first quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,004 shares in the last quarter. Finally, MQS Management LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the first quarter worth $244,000. Institutional investors own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Saturday, September 27th. Zacks Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Keefe, Bruyette & Woods raised 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 note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.40.

Seacoast Banking Corporation of Florida Stock Up 1.6%

SBCF opened at $30.92 on Friday. The business has a 50-day moving average of $29.94 and a 200-day moving average of $27.15. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $32.09. The company has a market capitalization of $2.72 billion, a PE ratio of 18.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data 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. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%.The firm had revenue of $151.40 million for the quarter, compared to the consensus estimate of $146.08 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. Equities research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.18 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 44.17%.

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.