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

Meeder Asset Management Inc. grew its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 244.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,672 shares of the financial services provider’s stock after acquiring an additional 11,118 shares during the period. Meeder Asset Management Inc.’s holdings in Seacoast Banking Co. of Florida were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SBCF. Smartleaf Asset Management LLC raised its position in 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 last quarter. Kestra Investment Management LLC acquired a new stake in Seacoast Banking Co. of Florida in the 4th quarter valued at about $34,000. Venturi Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $76,000. KBC Group NV raised its position in shares of Seacoast Banking Co. of Florida by 33.7% during the fourth 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 during the last quarter. Finally, FMR LLC raised its holdings in Seacoast Banking Co. of Florida by 57.3% during the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,960 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Price Performance

NASDAQ:SBCF opened at $25.73 on Tuesday. Seacoast Banking Co. of Florida has a 52-week low of $21.90 and a 52-week high of $31.68. 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 debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $27.48 and its 200 day simple moving average is $27.68.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. As a group, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.71 EPS 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. Stockholders of record on Friday, March 14th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.80%. Seacoast Banking Co. of Florida’s dividend payout ratio is presently 50.35%.

Analysts Set New Price Targets

Several brokerages have commented on SBCF. Stephens upped their target price on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Raymond James restated an “outperform” rating and set a $31.00 target price (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average target price 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.