21,157 Shares in Seacoast Banking Co. of Florida (NASDAQ:SBCF) Acquired by AlphaQuest LLC

AlphaQuest LLC purchased a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 21,157 shares of the financial services provider’s stock, valued at approximately $582,000.

Several other large investors have also made changes to their positions in the company. Hantz Financial Services Inc. boosted its position in shares of Seacoast Banking Co. of Florida by 0.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 51,132 shares of the financial services provider’s stock worth $1,363,000 after acquiring an additional 383 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Seacoast Banking Co. of Florida by 6.0% in the 4th quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 478 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Seacoast Banking Co. of Florida by 1.7% in the 4th quarter. Victory Capital Management Inc. now owns 35,518 shares of the financial services provider’s stock valued at $978,000 after purchasing an additional 585 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Seacoast Banking Co. of Florida by 1.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 49,698 shares of the financial services provider’s stock valued at $1,324,000 after purchasing an additional 659 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake 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 valued at $31,000 after purchasing an additional 679 shares during the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

SBCF stock opened at $25.31 on Wednesday. The company has a fifty day moving average price of $27.71 and a 200-day moving average price of $27.79. The company has a market capitalization of $2.17 billion, a P/E ratio of 17.70 and a beta of 1.09. Seacoast Banking Co. of Florida has a 52-week low of $21.90 and a 52-week high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) 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%. As a group, equities analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS 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. Stockholders of record on Friday, March 14th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is presently 50.35%.

Analyst Upgrades and Downgrades

SBCF has been the subject of several research reports. Stephens increased their price objective on shares of 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. Raymond James reissued an “outperform” rating and issued a $31.00 price objective (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Finally, StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company 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.