Cibc World Markets Corp Takes Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Cibc World Markets Corp acquired a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 7,905 shares of the financial services provider’s stock, valued at approximately $218,000.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in Seacoast Banking Co. of Florida by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock valued at $111,144,000 after purchasing an additional 305,843 shares during the period. Raymond James Financial Inc. acquired a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $6,850,000. Tributary Capital Management LLC boosted its stake in Seacoast Banking Co. of Florida by 44.4% in the fourth quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock valued at $18,028,000 after acquiring an additional 201,494 shares during the last quarter. Barclays PLC boosted its stake in Seacoast Banking Co. of Florida by 112.0% in the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider’s stock valued at $4,754,000 after acquiring an additional 94,242 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Seacoast Banking Co. of Florida by 7.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 849,811 shares of the financial services provider’s stock worth $22,647,000 after acquiring an additional 56,897 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Analyst Upgrades and Downgrades

SBCF has been the topic of several recent research reports. StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Stephens raised their target price on Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Monday, March 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $31.00 price target (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Seacoast Banking Co. of Florida presently has an average rating of “Hold” and an average target price of $30.00.

Seacoast Banking Co. of Florida Stock Down 1.0 %

NASDAQ:SBCF opened at $26.20 on Thursday. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 18.32 and a beta of 1.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $27.55 and a two-hundred day moving average price of $27.69. Seacoast Banking Co. of Florida has a 1 year low of $21.90 and a 1 year high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data 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 return on equity of 5.91% and a net margin of 14.95%. As a group, equities analysts expect that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business 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 2.75%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is 50.35%.

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.