Zurcher Kantonalbank Zurich Cantonalbank Has $800,000 Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 29.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,049 shares of the financial services provider’s stock after purchasing an additional 6,620 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Seacoast Banking Co. of Florida were worth $800,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position 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 purchasing an additional 679 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at about $34,000. Venturi Wealth Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at about $76,000. KBC Group NV increased its holdings in shares of Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 768 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of 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 valued at $143,000 after acquiring 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 opened at $25.96 on Friday. The firm has a market capitalization of $2.22 billion, a P/E ratio of 18.15 and a beta of 1.09. The stock’s 50 day moving average price is $27.55 and its two-hundred day moving average price is $27.69. The company has a quick ratio of 0.85, a current 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 released its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. On average, equities analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.77%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Stephens increased their price objective on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, March 3rd. Finally, Raymond James reissued an “outperform” rating and set a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.