Royce & Associates LP Boosts Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Royce & Associates LP increased its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 5.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,077,396 shares of the financial services provider’s stock after purchasing an additional 50,818 shares during the period. Royce & Associates LP owned approximately 1.26% of Seacoast Banking Co. of Florida worth $29,661,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in Seacoast Banking Co. of Florida by 97.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,238 shares of the financial services provider’s stock valued at $912,000 after buying an additional 16,930 shares during the period. Jane Street Group LLC boosted its position in Seacoast Banking Co. of Florida by 35.0% in the 3rd quarter. Jane Street Group LLC now owns 105,808 shares of the financial services provider’s stock valued at $2,820,000 after buying an additional 27,403 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Seacoast Banking Co. of Florida by 7.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 849,811 shares of the financial services provider’s stock valued at $22,647,000 after buying an additional 56,897 shares during the period. State Street Corp boosted its position in Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock valued at $112,978,000 after buying an additional 28,066 shares during the period. Finally, Citigroup Inc. boosted its position in Seacoast Banking Co. of Florida by 14.6% in the 3rd quarter. Citigroup Inc. now owns 157,927 shares of the financial services provider’s stock valued at $4,209,000 after buying an additional 20,122 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock opened at $25.95 on Friday. The stock has a market cap of $2.22 billion, a P/E ratio of 18.15 and a beta of 1.09. The company has a fifty day simple moving average of $27.58 and a 200-day simple moving average of $27.74. Seacoast Banking Co. of Florida has a 12-month low of $21.90 and a 12-month high of $31.68. 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 (NASDAQ:SBCF) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.77%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stephens raised their price target 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 report on Monday, March 3rd. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, 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 research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.00.

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.