Seacoast Banking Co. of Florida (NASDAQ:SBCF – Get Rating) released its results on Thursday. The financial services provider reported earnings per share (EPS) of $0.33 for the quarter, missing the consensus estimate of $0.45 per ($0.12), Fidelity Earnings reports. Seacoast Banking Co. of Florida recorded a return on equity of 10.93% and a net margin of 35.05%. During the same period last year, the company achieved EPS of $0.63.

Shares of Seacoast Banking Co. of Florida were down $0.73 midday Friday, hitting $32.50. 314,008 shares of the company were traded, against an average volume of 305,606. Seacoast Banking Co. of Florida has a 52-week low of $29.28 and a 52-week high of $39.31. The stock has a 50-day moving average price of $34.65 and a 200-day moving average price of $35.74. The company has a debt ratio of 0.05, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $1.99 billion, a P/E ratio of 17.02 and a beta of 1.20.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Wednesday, June 15 will receive a dividend of $0.17 per share. This represents a dividend of $0.68 on an annualized basis and a dividend yield of 2.09%. This is a positive change from Seacoast Banking Co. of Florida’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, June 14. Seacoast Banking Co. of Florida’s payout ratio is currently 27.23%.

Separately, director Dennis S. Hudson III sold 8,000 shares of the company in a trade dated Wednesday, February 2. The stock was sold at an average price of $36.35, for a total value of $290,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CEO Charles M. Shaffer sold 10,500 shares of the company in a trade dated Tuesday, February 1. The stock was sold at an average price of $36.35, for a total value of $381,675.00. The disclosure of this sale can be found here. 2.20% of the shares are held by insiders.

A number of hedge funds have recently changed their stock holdings. BlackRock Inc. increased its stake in Seacoast Banking Co. of Florida by 6.0% during the 4th quarter. BlackRock Inc. now owns 8,625,827 shares of the financial services provider valued at $305,269,000 after acquiring an additional 489,024 shares during the period. Wells Fargo & Company MN increased its stake in Seacoast Banking Co. of Florida by 12.9% during the fourth quarter. Wells Fargo & Company MN now owns 90,799 shares of the financial services provider valued at $3,212,000 after acquiring an additional 10,394 shares during the period. California State Teachers Retirement System increased its holdings in Seacoast Banking Co. of Florida by 0.5% during the fourth quarter. California State Teachers Retirement System now owns 75,294 shares of the financial services provider valued at $2,665,000 after acquiring 408 additional shares during the period. Parametric Portfolio Associates LLC increased its holdings in Seacoast Banking Co. of Florida by 23.3% during the 4th quarter. Parametric Portfolio Associates LLC now owns 154,688 shares of the financial services provider valued at $5,474,000 after acquiring an additional 29,249 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Seacoast Banking Co. of Florida by 0.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,412,395 shares of the financial services provider valued at $49,984,000 after acquiring an additional 4,622 shares during the period. Institutional investors hold 82.61% of the company’s shares.

SBCF has been the subject of several research analyst reports. StockNews.com downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research upgraded Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a target price of $38.00 for the company in a Tuesday, April 5 research report. Finally, Keefe, Bruyette & Woods launched coverage on Florida’s Seacoast Banking Co. in a Monday, January 17, research report. They set a “market performance” rating for the company. One research analyst rated the stock with a sell rating, two assigned a hold rating, and two assigned the company a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.67.

About Seacoast Banking Co. of Florida (Get a rating)

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

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