Seacoast Banking Co. of Florida (NASDAQ:SBCF) PT Lowered to $26.00 at Keefe, Bruyette & Woods

Seacoast Banking Co. of Florida (NASDAQ:SBCF) had its price target trimmed by Keefe, Bruyette & Woods from $28.00 to $26.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Truist Financial cut their price target on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a hold rating on the stock in a report on Monday, April 29th. Raymond James raised their target price on Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Finally, Hovde Group dropped their price target on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an outperform rating on the stock in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $26.10.

Seacoast Banking Co. of Florida Stock Performance

Shares of NASDAQ SBCF opened at $24.12 on Thursday. The stock’s fifty day simple moving average is $23.94 and its 200 day simple moving average is $24.53. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 17.23 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. Seacoast Banking Co. of Florida has a 52-week low of $17.93 and a 52-week high of $29.98.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.99%. Seacoast Banking Co. of Florida’s dividend payout ratio is 51.43%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC lifted its position in shares of Seacoast Banking Co. of Florida by 67.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 350,918 shares of the financial services provider’s stock worth $7,706,000 after purchasing an additional 141,403 shares during the last quarter. One Wealth Management Investment & Advisory Services LLC acquired a new position in Seacoast Banking Co. of Florida during the 4th quarter valued at $1,321,000. Wellington Management Group LLP boosted its holdings in Seacoast Banking Co. of Florida by 31.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,597,739 shares of the financial services provider’s stock valued at $100,966,000 after purchasing an additional 1,106,724 shares during the period. Deutsche Bank AG grew its position in Seacoast Banking Co. of Florida by 14.0% during the third quarter. Deutsche Bank AG now owns 40,874 shares of the financial services provider’s stock worth $898,000 after buying an additional 5,019 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Seacoast Banking Co. of Florida by 6.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,829 shares of the financial services provider’s stock valued at $14,885,000 after acquiring an additional 39,183 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.