Cibc World Markets Corp Buys New Shares in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Cibc World Markets Corp bought a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,905 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBCF. State Street Corp grew its holdings in shares of Seacoast Banking Co. of Florida by 0.7% during the 3rd 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 boosted its stake in Seacoast Banking Co. of Florida by 7.9% during the third quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock worth $111,144,000 after buying an additional 305,843 shares in the last quarter. Geode Capital Management LLC increased its holdings in Seacoast Banking Co. of Florida by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock valued at $53,959,000 after buying an additional 23,396 shares during the period. Royce & Associates LP increased its holdings in Seacoast Banking Co. of Florida by 5.0% in the 4th quarter. Royce & Associates LP now owns 1,077,396 shares of the financial services provider’s stock valued at $29,661,000 after buying an additional 50,818 shares during the period. Finally, Charles Schwab Investment Management Inc. raised 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 valued at $24,873,000 after buying an additional 53,666 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SBCF. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Raymond James reaffirmed an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida 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, March 3rd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Seacoast Banking Co. of Florida presently has an average rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. of Florida Price Performance

Shares of Seacoast Banking Co. of Florida stock opened at $26.20 on Thursday. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 18.32 and a beta of 1.09. The firm’s 50-day moving average price is $27.55 and its two-hundred day moving average price is $27.69. 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.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 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%. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid 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 2.75%. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 50.35%.

Seacoast Banking Co. of Florida 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.