Brandywine Global Investment Management LLC Trims Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Brandywine Global Investment Management LLC trimmed its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,362 shares of the financial services provider’s stock after selling 2,900 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.07% of Seacoast Banking Co. of Florida worth $1,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its stake in shares of Seacoast Banking Co. of Florida by 154.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 679 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the fourth quarter worth about $34,000. Venturi Wealth Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida in the fourth quarter worth about $76,000. KBC Group NV boosted its stake in shares of Seacoast Banking Co. of Florida by 33.7% during the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 1,121 shares in the last quarter. Finally, FMR LLC increased its stake 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 purchasing an additional 1,960 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SBCF shares. Raymond James reiterated 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 research report on Wednesday, January 29th. StockNews.com raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Stephens boosted their target price 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. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida has an average rating of “Hold” and an average target price of $30.00.

Seacoast Banking Co. of Florida Price Performance

Seacoast Banking Co. of Florida stock opened at $25.80 on Thursday. The company has a fifty day simple moving average of $27.43 and a 200-day simple moving average of $27.66. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 18.04 and a beta of 1.09. Seacoast Banking Co. of Florida has a 52-week low of $21.90 and a 52-week high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.48 earnings per share (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%. On average, equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, March 14th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) 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.