Bank of New York Mellon Corp Sells 151,564 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Bank of New York Mellon Corp lowered its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,903,066 shares of the financial services provider’s stock after selling 151,564 shares during the period. Bank of New York Mellon Corp owned about 2.23% of Seacoast Banking Co. of Florida worth $52,391,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $34,000. Venturi Wealth Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at $76,000. KBC Group NV increased its position in shares of 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 valued at $89,000 after buying an additional 768 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at $121,000. Finally, FMR LLC increased its holdings in Seacoast Banking Co. of Florida by 57.3% during the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,960 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SBCF shares. 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 report on Wednesday, January 29th. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Stephens increased their target price on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.00.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF opened at $27.03 on Thursday. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 18.90 and a beta of 1.08. The business has a 50-day moving average of $27.80 and a 200-day moving average of $27.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Co. of Florida has a fifty-two week low of $21.90 and a fifty-two week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida’s payout ratio is 50.35%.

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.