Charles Schwab Investment Management Inc. Purchases 53,666 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Charles Schwab Investment Management Inc. increased its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 903,477 shares of the financial services provider’s stock after buying an additional 53,666 shares during the period. Charles Schwab Investment Management Inc. owned about 1.06% of Seacoast Banking Co. of Florida worth $24,873,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in Seacoast Banking Co. of Florida by 154.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock worth $31,000 after buying an additional 679 shares during the period. Kestra Investment Management LLC bought a new position in Seacoast Banking Co. of Florida in the 4th quarter worth $34,000. Venturi Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida in the 4th quarter worth $76,000. KBC Group NV boosted its holdings in Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after buying an additional 768 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Seacoast Banking Co. of Florida in the 3rd quarter worth $121,000. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Stock Down 0.0 %

Shares of NASDAQ SBCF opened at $26.18 on Wednesday. The firm’s 50-day moving average price is $27.56 and its 200-day moving average price is $27.72. 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 stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 18.31 and a beta of 1.09. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. On average, equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is 50.35%.

Analysts Set New Price Targets

Several analysts have commented on SBCF shares. Stephens boosted their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Raymond James reiterated an “outperform” rating and issued a $31.00 price target (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.00.

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.