Meeder Asset Management Inc. Has $431,000 Stock Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Meeder Asset Management Inc. boosted its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 244.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,672 shares of the financial services provider’s stock after buying an additional 11,118 shares during the period. Meeder Asset Management Inc.’s holdings in Seacoast Banking Co. of Florida were worth $431,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Seacoast Banking Co. of Florida by 3.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 380 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Seacoast Banking Co. of Florida by 0.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 51,132 shares of the financial services provider’s stock worth $1,363,000 after acquiring an additional 383 shares during the period. CIBC Asset Management Inc raised its holdings in Seacoast Banking Co. of Florida by 6.0% in the 4th quarter. CIBC Asset Management Inc now owns 8,393 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 478 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Seacoast Banking Co. of Florida by 1.7% during the 4th quarter. Victory Capital Management Inc. now owns 35,518 shares of the financial services provider’s stock valued at $978,000 after acquiring an additional 585 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 154.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 679 shares in the last quarter. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Co. of Florida Trading Up 0.9 %

SBCF opened at $25.73 on Tuesday. The company has a market cap of $2.20 billion, a P/E ratio of 17.99 and a beta of 1.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average is $27.48 and its 200-day moving average is $27.68. Seacoast Banking Co. of Florida has a 1-year low of $21.90 and a 1-year high of $31.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts predict that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.80%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 50.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBCF. Stephens increased their price objective 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. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Finally, Raymond James restated an “outperform” rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $30.00.

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.