Pitcairn Co. Has $371,000 Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Pitcairn Co. boosted its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 25.1% in the fourth quarter, HoldingsChannel reports. The firm owned 13,484 shares of the financial services provider’s stock after purchasing an additional 2,705 shares during the quarter. Pitcairn Co.’s holdings in Seacoast Banking Co. of Florida were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Seacoast Banking Co. of Florida by 0.7% during the 3rd 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 during the last quarter. Wellington Management Group LLP lifted its position in Seacoast Banking Co. of Florida by 7.9% during the third quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider’s stock worth $111,144,000 after acquiring an additional 305,843 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Seacoast Banking Co. of Florida by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider’s stock worth $53,959,000 after acquiring an additional 23,396 shares during the period. Segall Bryant & Hamill LLC grew its position in shares of Seacoast Banking Co. of Florida by 0.6% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider’s stock valued at $51,156,000 after purchasing an additional 11,765 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Seacoast Banking Co. of Florida by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,160,182 shares of the financial services provider’s stock worth $31,940,000 after purchasing an additional 27,825 shares during the period. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Stock Down 3.8 %

SBCF stock opened at $22.69 on Friday. Seacoast Banking Co. of Florida has a 52 week low of $21.90 and a 52 week high of $31.68. The business has a 50-day simple moving average of $27.29 and a 200 day simple moving average of $27.60. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.94 billion, a PE ratio of 15.87 and a beta of 1.09.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. Sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 50.35%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James reaffirmed an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Stephens raised their price target on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Finally, StockNews.com cut shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. 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.