Pier Capital LLC Boosts Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Pier Capital LLC boosted its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 382,342 shares of the financial services provider’s stock after purchasing an additional 12,383 shares during the quarter. Seacoast Banking Co. of Florida comprises about 1.5% of Pier Capital LLC’s portfolio, making the stock its 9th biggest holding. Pier Capital LLC’s holdings in Seacoast Banking Co. of Florida were worth $10,526,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 0.6% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider’s stock valued at $51,156,000 after acquiring an additional 11,765 shares during the period. Advantage Alpha Capital Partners LP increased its position in shares of Seacoast Banking Co. of Florida by 12.5% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 20,696 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 2,292 shares in the last quarter. LPL Financial LLC lifted its holdings in Seacoast Banking Co. of Florida by 33.7% during the 4th quarter. LPL Financial LLC now owns 17,086 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 4,304 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at about $449,000. Finally, Sei Investments Co. grew its stake in Seacoast Banking Co. of Florida by 4.8% during the fourth quarter. Sei Investments Co. now owns 85,387 shares of the financial services provider’s stock worth $2,351,000 after buying an additional 3,946 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Performance

SBCF stock opened at $26.63 on Tuesday. The company has a 50 day moving average price of $27.57 and a 200 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. 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 stock has a market capitalization of $2.28 billion, a PE ratio of 18.62 and a beta of 1.09.

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, 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%. Analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.70%. Seacoast Banking Co. of Florida’s payout ratio is presently 50.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Stephens lifted their target price 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. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, Raymond James restated 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.00.

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.