Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Acquired by Swiss National Bank

Swiss National Bank boosted its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,800 shares of the financial services provider’s stock after acquiring an additional 2,000 shares during the quarter. Swiss National Bank’s holdings in Seacoast Banking Co. of Florida were worth $4,620,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SBCF. State Street Corp grew its stake in shares of Seacoast Banking Co. of Florida by 0.7% in the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock worth $112,978,000 after purchasing an additional 28,066 shares in the last quarter. Wellington Management Group LLP increased its stake 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 valued at $111,144,000 after buying an additional 305,843 shares during the period. Geode Capital Management LLC raised its position in shares of Seacoast Banking Co. of Florida by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock worth $53,959,000 after buying an additional 23,396 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 903,477 shares of the financial services provider’s stock worth $24,873,000 after acquiring an additional 53,666 shares during the period. Finally, Tributary Capital Management LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 44.4% in the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock valued at $18,028,000 after acquiring an additional 201,494 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SBCF. Raymond James reissued 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 raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Stephens raised their target price on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ:SBCF opened at $26.63 on Tuesday. The company has a market capitalization of $2.28 billion, a PE ratio of 18.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day moving average of $27.57 and a 200-day moving average of $27.70. Seacoast Banking Co. of Florida has a one year low of $21.90 and a one year 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, topping 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%. As a group, equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

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 paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 50.35%.

Seacoast Banking Co. of Florida Company 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.