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Los Angeles Capital Management LLC makes a new investment in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Los Angeles Capital Management LLC purchased a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 24,330 shares of the financial services provider, valued at approximately $735,000.

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Several other institutional investors and hedge funds have also recently made changes to their positions in SBCF. Fairfield Bush & Co. purchased a new share of Seacoast Banking Co. of Florida stock in the first quarter for $60,000. JPMorgan Chase & Co. increased its position in shares of Seacoast Banking Co. of Florida by 30.8% in the first quarter. JPMorgan Chase & Co. now owns 80,608 shares of the financial services provider worth $2,823,000 after buying an additional 19,003 shares last quarter. Raymond James & Associates increased its stake in Seacoast Banking Co. of Florida stock to 167.7% in the first quarter. Raymond James & Associates now owns 26,483 shares of the financial services provider valued at $927,000 after buying an additional 16,591 shares in the last quarter. American Century Companies Inc. increased its position in shares of Seacoast Banking Co. of Florida by 20.1% during the first quarter. American Century Companies Inc. now owns 14,501 shares of the financial services provider worth $508,000 after purchasing an additional 2,424 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Seacoast Banking Co. of Florida by 22.0% during the first quarter. US Bancorp DE now owns 4,025 shares of the financial services provider worth $141,000 after buying an additional 726 shares last quarter. Currently, 86.92% of the shares are owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Trading Down 1.5%

NASDAQ SBCF opened at $31.61 on Wednesday. The firm has a debt to equity ratio of 0.06, a quick ratio of 0.77, and a current ratio of 0.77. Seacoast Banking Co. of Florida has a one-year minimum of $29.05 and a one-year maximum of $38.74. The company has a 50-day simple moving average of $32.24 and a 200-day simple moving average of $32.49. The company has a market capitalization of $1.94 billion, a PE ratio of 16.21, and a beta of 1.09.

Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) last issued its earnings results on Thursday, October 27. The financial services provider reported earnings per share (EPS) of $0.47 for the quarter, below analyst consensus estimates of $0.61 per ($0.14). The business had revenue of $104.39 million during the quarter, compared to the consensus estimate of $105.57 million. Seacoast Banking Co. of Florida earned a return on equity of 9.80% and a net margin of 30.14%. On average, stock analysts forecast Seacoast Banking Co. of Florida to post 1.47 earnings per share for the current year.

Seacoast Banking Co. of Florida Announces Dividends

The company also recently revealed a quarterly dividend, which will be paid on Friday, March 31. Investors registered on Wednesday March 15 will receive a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 14. This represents a dividend of $0.68 on an annualized basis and a yield of 2.15%. Seacoast Banking Co. of Florida’s payment ratio is currently 34.87%.

Analyst promotions and demotions

Several analysts have issued reports on SBCF shares. StockNews.com downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Monday, October 31. Hovde Group lowered its price target on Seacoast Banking Co. of Florida to $34.00 in a research report on Friday, November 4.

Seacoast Banking Co. of Florida Company Profile

(Get rating)

Seacoast Banking Corporation of Florida operates as the banking holding company for Seacoast National Bank which provides financial services to retail and business customers in Florida. It offers commercial and retail banking, wealth management and mortgage services; and brokerage and annuity services.

Other reading

Want to see what other hedge funds have SBCFs? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Seacoast Banking Co. of Florida (NASDAQ: SBCF – Get Qualified).

Institutional ownership by quarter for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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