Seacoast Banking Co. of Florida (NASDAQ:SBCF) Position Raised by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,393 shares of the financial services provider’s stock after acquiring an additional 478 shares during the quarter. CIBC Asset Management Inc’s holdings in Seacoast Banking Co. of Florida were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP grew its position in Seacoast Banking Co. of Florida by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock worth $111,144,000 after purchasing an additional 305,843 shares in the last quarter. Tributary Capital Management LLC increased its position in Seacoast Banking Co. of Florida by 44.4% during the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock worth $18,028,000 after buying an additional 201,494 shares during the last quarter. abrdn plc lifted its holdings in Seacoast Banking Co. of Florida by 10.9% in the 3rd quarter. abrdn plc now owns 1,122,478 shares of the financial services provider’s stock worth $29,914,000 after purchasing an additional 110,582 shares during the last quarter. Barclays PLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 112.0% during the 3rd quarter. Barclays PLC now owns 178,355 shares of the financial services provider’s stock worth $4,754,000 after buying an additional 94,242 shares during the period. Finally, Ceredex Value Advisors LLC grew its stake in Seacoast Banking Co. of Florida by 24.2% in the 3rd quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider’s stock valued at $12,551,000 after buying an additional 91,900 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Up 0.2 %

Shares of NASDAQ SBCF opened at $27.97 on Wednesday. The firm has a market capitalization of $2.39 billion, a PE ratio of 19.56 and a beta of 1.08. 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 1 year low of $21.90 and a 1 year high of $31.68. The firm’s 50-day moving average is $27.74 and its 200-day moving average is $27.70.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, topping 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%. Equities analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed 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 2.57%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is 50.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SBCF shares. Raymond James reissued an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.40.

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.