Kestra Investment Management LLC Invests $34,000 in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Kestra Investment Management LLC bought a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,232 shares of the financial services provider’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at about $76,000. KBC Group NV lifted its stake in Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after buying an additional 768 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Seacoast Banking Co. of Florida in the 3rd quarter valued at about $121,000. FMR LLC lifted its stake in Seacoast Banking Co. of Florida by 57.3% in the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,960 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Seacoast Banking Co. of Florida in the 3rd quarter valued at about $178,000. 81.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBCF has been the topic of a number of research reports. Truist Financial decreased their price target on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Raymond James reaffirmed 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 note on Wednesday, January 29th. Finally, Stephens increased their price objective on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.40.

Seacoast Banking Co. of Florida Stock Down 3.3 %

SBCF stock opened at $28.17 on Friday. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 19.70 and a beta of 1.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12 month low of $21.90 and a 12 month high of $31.68. The firm has a 50-day moving average of $27.77 and a two-hundred day moving average of $27.65.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, beating analysts’ consensus estimates 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%. As a group, analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.56%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

Seacoast Banking Co. of Florida Company 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.