Pier Capital LLC Purchases 12,383 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Pier Capital LLC raised its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 382,342 shares of the financial services provider’s stock after acquiring an additional 12,383 shares during the quarter. Seacoast Banking Co. of Florida comprises approximately 1.5% of Pier Capital LLC’s holdings, making the stock its 9th largest position. Pier Capital LLC owned about 0.45% of Seacoast Banking Co. of Florida worth $10,526,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its holdings in shares of Seacoast Banking Co. of Florida by 154.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 679 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Seacoast Banking Co. of Florida during the fourth quarter worth approximately $34,000. Venturi Wealth Management LLC bought a new stake in Seacoast Banking Co. of Florida during the fourth quarter worth approximately $76,000. KBC Group NV grew its holdings in Seacoast Banking Co. of Florida by 33.7% during the fourth quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,121 shares during the last quarter. Finally, FMR LLC raised its position in shares of Seacoast Banking Co. of Florida by 57.3% in the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 1,960 shares during the period. 81.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SBCF has been the subject of several recent analyst reports. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. 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 research report on Wednesday, January 29th. Finally, Stephens raised their price target on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.00.

Seacoast Banking Co. of Florida Price Performance

Shares of Seacoast Banking Co. of Florida stock opened at $26.63 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $2.28 billion, a PE ratio of 18.62 and a beta of 1.09. The firm has a fifty day moving average price of $27.57 and a two-hundred day moving average price of $27.70. 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 released its earnings results 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 net margin of 14.95% and a return on equity of 5.91%. Analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend 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.