Townsquare Capital LLC Has $1.05 Million Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Townsquare Capital LLC cut its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 10.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,946 shares of the financial services provider’s stock after selling 4,513 shares during the period. Townsquare Capital LLC’s holdings in Seacoast Banking Co. of Florida were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position 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 buying an additional 23,396 shares during the period. Segall Bryant & Hamill LLC boosted its position in Seacoast Banking Co. of Florida by 0.6% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,858,183 shares of the financial services provider’s stock worth $51,156,000 after acquiring an additional 11,765 shares during the last quarter. William Blair Investment Management LLC boosted its position in Seacoast Banking Co. of Florida by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,160,182 shares of the financial services provider’s stock worth $31,940,000 after acquiring an additional 27,825 shares during the last quarter. Royce & Associates LP grew its stake in shares of Seacoast Banking Co. of Florida by 5.0% during the 4th quarter. Royce & Associates LP now owns 1,077,396 shares of the financial services provider’s stock worth $29,661,000 after acquiring an additional 50,818 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Seacoast Banking Co. of Florida by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 903,477 shares of the financial services provider’s stock valued at $24,873,000 after purchasing an additional 53,666 shares during the last quarter. Institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SBCF shares. Raymond James restated an “outperform” rating and set a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Stephens increased their price objective 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 note on Monday, March 3rd. Finally, StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.00.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF opened at $22.95 on Friday. The company has a market cap of $1.96 billion, a PE ratio of 16.05 and a beta of 0.97. The firm has a 50-day moving average of $26.11 and a 200-day moving average of $27.29. Seacoast Banking Co. of Florida has a one year low of $21.36 and a one year high of $31.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.85 and a quick ratio of 0.85.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. As a group, equities analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, March 14th. Seacoast Banking Co. of Florida’s payout ratio is presently 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.