Swiss National Bank Grows Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Swiss National Bank grew its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,800 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the period. Swiss National Bank owned approximately 0.20% of Seacoast Banking Co. of Florida worth $4,620,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its stake in Seacoast Banking Co. of Florida by 154.0% during 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 acquired a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at about $34,000. Venturi Wealth Management LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter worth about $76,000. KBC Group NV lifted its stake in shares of Seacoast Banking Co. of Florida by 33.7% in the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 1,121 shares in the last quarter. Finally, FMR LLC boosted its holdings in Seacoast Banking Co. of Florida by 57.3% in the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,960 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock opened at $26.63 on Tuesday. The firm has a market cap of $2.28 billion, a P/E ratio of 18.62 and a beta of 1.09. The stock’s 50 day simple moving average is $27.57 and its 200 day simple moving average is $27.70. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. 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 posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts predict that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.18 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.70%. Seacoast Banking Co. of Florida’s payout ratio is currently 50.35%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SBCF shares. Raymond James reaffirmed an “outperform” rating and issued a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Stephens raised their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Seacoast Banking Co. of Florida has an average rating of “Hold” and an average target price of $30.00.

About Seacoast Banking Co. 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.