Pier Capital LLC Acquires 139,346 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Pier Capital LLC raised its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 51.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 411,303 shares of the financial services provider’s stock after acquiring an additional 139,346 shares during the quarter. Seacoast Banking Co. of Florida accounts for 1.4% of Pier Capital LLC’s investment portfolio, making the stock its 5th biggest holding. Pier Capital LLC’s holdings in Seacoast Banking Co. of Florida were worth $13,906,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Seacoast Banking Co. of Florida by 0.5% during the 2nd quarter. BlackRock Inc. now owns 8,171,456 shares of the financial services provider’s stock worth $279,056,000 after purchasing an additional 37,877 shares in the last quarter. Vanguard Group Inc. grew its position in Seacoast Banking Co. of Florida by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,537,874 shares of the financial services provider’s stock worth $120,818,000 after acquiring an additional 104,235 shares during the last quarter. State Street Corp grew its position in Seacoast Banking Co. of Florida by 7.9% during the 2nd quarter. State Street Corp now owns 2,328,402 shares of the financial services provider’s stock worth $79,515,000 after acquiring an additional 170,019 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in Seacoast Banking Co. of Florida by 5.9% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,539,843 shares of the financial services provider’s stock worth $52,062,000 after acquiring an additional 86,072 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Seacoast Banking Co. of Florida by 3.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,430,663 shares of the financial services provider’s stock worth $48,857,000 after acquiring an additional 53,873 shares during the last quarter. Hedge funds and other institutional investors own 81.64% of the company’s stock.

NASDAQ:SBCF traded down $0.06 during mid-day trading on Friday, hitting $38.20. 3,341 shares of the company traded hands, compared to its average volume of 248,122. The stock’s fifty day moving average price is $35.81 and its 200-day moving average price is $33.86. Seacoast Banking Co. of Florida has a one year low of $29.28 and a one year high of $40.93. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 18.31 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.06.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Wednesday, October 27th. The financial services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.09). Seacoast Banking Co. of Florida had a net margin of 33.56% and a return on equity of 10.83%. The business had revenue of $90.35 million during the quarter, compared to analysts’ expectations of $85.84 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. Equities analysts predict that Seacoast Banking Co. of Florida will post 2.23 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were given a $0.13 dividend. The ex-dividend date was Tuesday, December 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.36%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 24.88%.

In related news, Chairman Dennis S. Hudson III sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $37.32, for a total value of $298,560.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.20% of the stock is currently owned by insiders.

Several research firms have weighed in on SBCF. Zacks Investment Research cut Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Thursday. Raymond James lifted their price objective on Seacoast Banking Co. of Florida from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, November 1st. Finally, B. Riley lowered Seacoast Banking Co. of Florida from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Wednesday, October 6th.

About Seacoast Banking Co. 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.

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Institutional Ownership by Quarter for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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