Navigoe LLC Purchases New Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Navigoe LLC acquired a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 12,017 shares of the financial services provider’s stock, valued at approximately $330,000.

A number of other institutional investors have also recently bought and sold shares of SBCF. North Reef Capital Management LP grew its holdings in Seacoast Banking Co. of Florida by 3.7% during the fourth quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider’s stock valued at $116,452,000 after purchasing an additional 150,000 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Seacoast Banking Co. of Florida by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider’s stock valued at $82,195,000 after buying an additional 16,214 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Seacoast Banking Co. of Florida by 0.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider’s stock worth $51,156,000 after acquiring an additional 11,765 shares during the period. William Blair Investment Management LLC increased its holdings in Seacoast Banking Co. of Florida by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,160,182 shares of the financial services provider’s stock worth $31,940,000 after acquiring an additional 27,825 shares during the last quarter. Finally, Royce & Associates LP raised its stake in Seacoast Banking Co. of Florida by 5.0% in the 4th quarter. Royce & Associates LP now owns 1,077,396 shares of the financial services provider’s stock valued at $29,661,000 after acquiring an additional 50,818 shares during the period. Institutional investors own 81.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SBCF. Raymond James reiterated an “outperform” rating and set a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Stephens cut their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Monday. Finally, StockNews.com lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Seacoast Banking Co. of Florida presently has an average rating of “Hold” and an average target price of $29.40.

Seacoast Banking Co. of Florida Price Performance

SBCF stock opened at $24.05 on Wednesday. The firm has a 50 day moving average of $25.05 and a 200-day moving average of $27.14. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.06 billion, a P/E ratio of 16.82 and a beta of 0.97. Seacoast Banking Co. of Florida has a 12 month low of $21.36 and a 12 month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The firm had revenue of $140.70 million for the quarter, compared to analysts’ expectations of $138.41 million. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.99%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 48.32%.

Seacoast Banking Co. 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.