Aberdeen Group plc Decreases Stake in Seacoast Banking Corporation of Florida $SBCF

Aberdeen Group plc reduced its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 12.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 867,371 shares of the financial services provider’s stock after selling 122,041 shares during the period. Aberdeen Group plc’s holdings in Seacoast Banking Corporation of Florida were worth $23,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Seacoast Banking Corporation of Florida in the first quarter worth about $27,000. IFP Advisors Inc lifted its stake 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 buying an additional 994 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 buying an additional 460 shares in the last quarter. CWM LLC lifted its stake 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 buying an additional 1,004 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new stake in Seacoast Banking Corporation of Florida during the second quarter worth about $242,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Price Performance

Shares of SBCF opened at $30.57 on Tuesday. Seacoast Banking Corporation of Florida has a 1-year low of $21.36 and a 1-year high of $32.33. The stock has a market cap of $2.69 billion, a PE ratio of 18.75 and a beta of 0.94. The firm has a 50-day simple moving average of $30.27 and a two-hundred day simple moving average of $27.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Monday, February 14th. The financial services provider reported $0.55 earnings per share for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. The business had revenue of $83.85 million during the quarter. As a group, analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.72 annualized dividend and a dividend yield of 2.4%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is presently 44.17%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective 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. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Raymond James Financial set a $33.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Zacks Research upgraded 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, Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

About Seacoast Banking Corporation 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.