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

Kestra Investment Management LLC purchased a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,232 shares of the financial services provider’s stock, valued at approximately $34,000.

Other large investors have also made changes to their positions in the company. Venturi Wealth Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the fourth quarter worth $76,000. KBC Group NV increased its position in shares of Seacoast Banking Co. of Florida by 30.0% during the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 768 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Seacoast Banking Co. of Florida during the third quarter worth $121,000. FMR LLC increased its position in shares of 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 acquiring an additional 1,960 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at $178,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF opened at $28.17 on Friday. Seacoast Banking Co. of Florida has a one year low of $21.90 and a one year high of $31.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 19.70 and a beta of 1.08. The firm’s fifty day moving average is $27.77 and its two-hundred day moving average is $27.65.

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, 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%. Research analysts expect that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Truist Financial cut their target price on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Raymond James reissued an “outperform” rating and issued a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Finally, Stephens upped their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida currently has an average rating of “Hold” and an average target price of $29.40.

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.