391,929 Shares in Seacoast Banking Corporation of Florida $SBCF Bought by FJ Capital Management LLC

FJ Capital Management LLC acquired a new position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) in the 1st quarter, Holdings Channel.com reports. The fund acquired 391,929 shares of the financial services provider’s stock, valued at approximately $10,084,000. Seacoast Banking Corporation of Florida makes up 1.0% of FJ Capital Management LLC’s holdings, making the stock its 29th biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Seacoast Banking Corporation of Florida by 41.5% during the first quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider’s stock valued at $2,777,000 after purchasing an additional 31,636 shares during the period. Graham Capital Management L.P. acquired a new position in shares of Seacoast Banking Corporation of Florida during the first quarter valued at about $1,097,000. Ieq Capital LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the first quarter valued at about $277,000. Ceredex Value Advisors LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 1.3% during the first quarter. Ceredex Value Advisors LLC now owns 509,794 shares of the financial services provider’s stock valued at $13,117,000 after acquiring an additional 6,590 shares in the last quarter. Finally, Synovus Financial Corp boosted its position in Seacoast Banking Corporation of Florida by 14.0% in the first quarter. Synovus Financial Corp now owns 37,877 shares of the financial services provider’s stock valued at $975,000 after buying an additional 4,642 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on SBCF shares. Hovde Group upped their price objective on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 4th. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods raised their price objective on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Finally, Zacks Research upgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Seacoast Banking Corporation of Florida Stock Up 0.5%

Shares of NASDAQ:SBCF opened at $31.11 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $31.68. The stock’s fifty day simple moving average is $28.80 and its 200-day simple moving average is $26.54. The company has a market capitalization of $2.73 billion, a P/E ratio of 19.09 and a beta of 0.98.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%.The firm had revenue of $151.40 million for the quarter, compared to the consensus estimate of $146.08 million. During the same period in the prior year, the business posted $0.36 earnings per share. As a group, equities research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 44.17%.

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.