Louisiana State Employees Retirement System Buys New Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Louisiana State Employees Retirement System bought a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 42,600 shares of the financial services provider’s stock, valued at approximately $1,212,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBCF. First Horizon Advisors Inc. grew its stake in Seacoast Banking Co. of Florida by 39.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,827 shares of the financial services provider’s stock valued at $40,000 after buying an additional 520 shares during the last quarter. Good Life Advisors LLC acquired a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at $205,000. Xcel Wealth Management LLC acquired a new position in Seacoast Banking Co. of Florida in the 4th quarter valued at $238,000. Envestnet Portfolio Solutions Inc. acquired a new position in Seacoast Banking Co. of Florida in the 3rd quarter valued at $242,000. Finally, Diversified Trust Co grew its stake in Seacoast Banking Co. of Florida by 5.8% in the 4th quarter. Diversified Trust Co now owns 13,154 shares of the financial services provider’s stock valued at $374,000 after buying an additional 718 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial lowered their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Raymond James raised their price target on shares of Seacoast Banking Co. of Florida from $23.00 to $27.50 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Seacoast Banking Co. of Florida currently has an average rating of “Hold” and an average target price of $25.63.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF opened at $23.18 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 18.69 and a beta of 1.16. The company’s fifty day moving average is $24.10 and its two-hundred day moving average is $24.38. Seacoast Banking Co. of Florida has a 52-week low of $17.93 and a 52-week high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $128.16 million during the quarter, compared to analyst estimates of $135.33 million. Seacoast Banking Co. of Florida had a return on equity of 5.04% and a net margin of 13.54%. Equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.47 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.18 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.72 annualized dividend and a yield of 3.11%. Seacoast Banking Co. of Florida’s dividend payout ratio is 58.06%.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.