Tributary Capital Management LLC Has $44.41 Million Position in Seacoast Banking Corporation of Florida $SBCF

Tributary Capital Management LLC lifted its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 99.4% in the third quarter, HoldingsChannel.com reports. The firm owned 1,459,462 shares of the financial services provider’s stock after purchasing an additional 727,428 shares during the period. Seacoast Banking Corporation of Florida comprises 2.1% of Tributary Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Tributary Capital Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $44,411,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Seacoast Banking Corporation of Florida by 21.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 366 shares during the period. Truist Financial Corp grew its position in shares of Seacoast Banking Corporation of Florida by 2.2% in the 2nd quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider’s stock worth $475,000 after buying an additional 373 shares during the last quarter. Assetmark Inc. increased its stake in shares of Seacoast Banking Corporation of Florida by 24.0% during the second quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock valued at $54,000 after buying an additional 375 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Seacoast Banking Corporation of Florida by 28.1% during the second quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 452 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in Seacoast Banking Corporation of Florida by 4.2% in the second quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 513 shares during the period. 81.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Seacoast Banking Corporation of Florida

In related news, Director Dennis S. Hudson III sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $31.13, for a total transaction of $249,040.00. Following the completion of the transaction, the director owned 251,275 shares of the company’s stock, valued at $7,822,190.75. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, October 8th. Piper Sandler restated a “neutral” rating and issued a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a report on Monday, November 3rd. Finally, Raymond James Financial set a $33.00 target price on Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.50.

Seacoast Banking Corporation of Florida Stock Down 0.6%

Shares of Seacoast Banking Corporation of Florida stock opened at $32.36 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84. The company has a 50-day moving average of $31.48 and a 200 day moving average of $30.32. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 19.15 and a beta of 0.92. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $33.23.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. The business had revenue of $83.85 million for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.93% and a return on equity of 7.16%. As a group, sell-side analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. Seacoast Banking Corporation of Florida’s payout ratio is presently 44.97%.

Seacoast Banking Corporation of Florida Profile

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.