Pictet Asset Management Holding SA Increases Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Pictet Asset Management Holding SA increased its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,892 shares of the financial services provider’s stock after acquiring an additional 2,454 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Seacoast Banking Co. of Florida were worth $327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of 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 purchasing an additional 16,930 shares in the last quarter. Jane Street Group LLC increased its holdings in Seacoast Banking Co. of Florida by 35.0% during the third 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. State Street Corp raised its stake in Seacoast Banking Co. of Florida by 0.7% in the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider’s stock worth $112,978,000 after buying an additional 28,066 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Seacoast Banking Co. 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 worth $11,305,000 after buying an additional 12,142 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at $341,000. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Stock Down 6.8 %

Seacoast Banking Co. of Florida stock opened at $22.01 on Friday. Seacoast Banking Co. of Florida has a 1-year low of $21.36 and a 1-year high of $31.68. The business has a fifty day moving average price of $26.64 and a 200-day moving average price of $27.41. 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 $1.88 billion, a price-to-earnings ratio of 15.39 and a beta of 0.97.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, topping 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%. Equities research analysts forecast 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 was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.27%. Seacoast Banking Co. of Florida’s payout ratio is 50.35%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Raymond James reissued 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 report on Wednesday, January 29th. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Friday. Finally, 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 report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.00.

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.