Wealth Effects LLC Has $553,000 Stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Wealth Effects LLC decreased its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,500 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Wealth Effects LLC’s holdings in Seacoast Banking Corporation of Florida were worth $553,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SBCF. Rhumbline Advisers grew its holdings in Seacoast Banking Corporation of Florida by 0.3% during the fourth quarter. Rhumbline Advisers now owns 256,011 shares of the financial services provider’s stock valued at $7,048,000 after purchasing an additional 717 shares during the period. Principal Financial Group Inc. grew its holdings in Seacoast Banking Corporation of Florida by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 410,632 shares of the financial services provider’s stock valued at $11,305,000 after purchasing an additional 12,142 shares during the period. CIBC Asset Management Inc grew its holdings in Seacoast Banking Corporation of Florida by 6.0% during the fourth 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 period. New York State Common Retirement Fund grew its holdings in Seacoast Banking Corporation of Florida by 3.1% during the fourth quarter. New York State Common Retirement Fund now owns 229,913 shares of the financial services provider’s stock valued at $6,330,000 after purchasing an additional 7,012 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in Seacoast Banking Corporation of Florida by 13.6% during the fourth quarter. Handelsbanken Fonder AB now owns 16,709 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Up 0.3%

Seacoast Banking Corporation of Florida stock opened at $26.12 on Thursday. The stock has a market capitalization of $2.25 billion, a PE ratio of 17.53 and a beta of 0.92. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $31.68. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $24.90 and a 200-day moving average of $26.16.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $140.70 million during the quarter, compared to analyst estimates of $138.41 million. Seacoast Banking Corporation of Florida had a net margin of 15.44% and a return on equity of 6.11%. The company’s revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, June 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 48.32%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a report on Friday, May 16th. Stephens decreased their price objective on shares of Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Hovde Group boosted their price objective on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a “market perform” rating in a report on Wednesday, June 4th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $29.20.

Seacoast Banking Corporation 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.