Seacoast Banking Corporation of Florida $SBCF Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 11.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,923 shares of the financial services provider’s stock after selling 1,427 shares during the period. Mutual of America Capital Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $302,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in SBCF. Westwood Holdings Group Inc. boosted its position in Seacoast Banking Corporation of Florida by 27.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider’s stock worth $73,834,000 after acquiring an additional 622,709 shares during the period. Nuveen LLC acquired a new stake in Seacoast Banking Corporation of Florida in the first quarter worth about $12,454,000. FJ Capital Management LLC acquired a new stake in Seacoast Banking Corporation of Florida in the first quarter worth about $10,084,000. Jane Street Group LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the 1st quarter worth approximately $4,817,000. Finally, Algert Global LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 1,164.4% in the 1st quarter. Algert Global LLC now owns 97,447 shares of the financial services provider’s stock worth $2,507,000 after acquiring an additional 89,740 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SBCF. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, October 8th. Zacks Research upgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Keefe, Bruyette & Woods upped their target price on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Raymond James Financial set a $33.00 price objective on Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Seacoast Banking Corporation of Florida Trading Down 0.7%

Shares of NASDAQ SBCF opened at $30.85 on Thursday. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $32.33. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 18.25 and a beta of 0.94. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The business has a fifty day simple moving average of $30.75 and a 200-day simple moving average of $27.95.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%.The business had revenue of $83.85 million during the quarter. Sell-side analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.19 dividend. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, December 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. Seacoast Banking Corporation of Florida’s payout ratio is currently 44.17%.

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.