ZWJ Investment Counsel Inc. Invests $242,000 in Seacoast Banking Corporation of Florida $SBCF

ZWJ Investment Counsel Inc. acquired a new position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) during the second quarter, HoldingsChannel.com reports. The fund acquired 8,757 shares of the financial services provider’s stock, valued at approximately $242,000.

Other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter worth $27,000. IFP Advisors Inc lifted its position in shares of Seacoast Banking Corporation of Florida by 343.9% in the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 994 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 38.0% in the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 460 shares in the last quarter. CWM LLC lifted its position in shares of Seacoast Banking Corporation of Florida by 61.6% in the first quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,004 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Seacoast Banking Corporation of Florida in the first quarter worth $244,000. Institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on SBCF shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Saturday, September 27th. Keefe, Bruyette & Woods upped their price target on shares of 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. Zacks Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Finally, Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Seacoast Banking Corporation of Florida Trading Up 1.6%

Shares of Seacoast Banking Corporation of Florida stock opened at $30.92 on Friday. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 18.97 and a beta of 0.94. 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 12-month low of $21.36 and a 12-month high of $32.09. The firm’s 50-day moving average price is $29.94 and its two-hundred day moving average price is $27.15.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $151.40 million for the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. During the same period in the prior year, the company posted $0.36 earnings per share. On average, 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 was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, September 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 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.