Seacoast Banking Corporation of Florida $SBCF Holdings Lifted by Emerald Advisers LLC

Emerald Advisers LLC grew its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 163.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 504,363 shares of the financial services provider’s stock after purchasing an additional 312,712 shares during the period. Emerald Advisers LLC’s holdings in Seacoast Banking Corporation of Florida were worth $15,277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Royal Bank of Canada lifted its stake in Seacoast Banking Corporation of Florida by 41.5% during the first quarter. Royal Bank of Canada now owns 107,951 shares of the financial services provider’s stock valued at $2,777,000 after buying an additional 31,636 shares in the last quarter. AQR Capital Management LLC grew its position in Seacoast Banking Corporation of Florida by 123.4% in the first quarter. AQR Capital Management LLC now owns 82,889 shares of the financial services provider’s stock worth $2,133,000 after acquiring an additional 45,792 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Seacoast Banking Corporation of Florida by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,255 shares of the financial services provider’s stock worth $1,293,000 after buying an additional 2,187 shares during the last quarter. Jane Street Group LLC bought a new stake in Seacoast Banking Corporation of Florida during the first quarter worth approximately $4,817,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Seacoast Banking Corporation of Florida by 4.2% during the 2nd quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock worth $351,000 after buying an additional 513 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Trading Up 0.2%

SBCF opened at $32.97 on Tuesday. The firm’s fifty day moving average is $31.25 and its two-hundred day moving average is $31.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $3.21 billion, a PE ratio of 21.69 and a beta of 0.85. Seacoast Banking Corporation of Florida has a twelve month low of $27.22 and a twelve month high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Seacoast Banking Corporation of Florida had a return on equity of 8.23% and a net margin of 14.42%.The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $205.51 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The company’s revenue was up 45.8% on a year-over-year basis. Equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 2.51 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, June 15th. This represents a $0.76 annualized dividend and a yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 50.00%.

Insider Activity

In related news, EVP James C. Stallings III sold 7,552 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $31.16, for a total value of $235,320.32. Following the sale, the executive vice president owned 7,247 shares of the company’s stock, valued at approximately $225,816.52. The trade was a 51.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis S. Hudson III sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total value of $251,280.00. Following the sale, the director owned 220,854 shares in the company, valued at approximately $6,937,024.14. This represents a 3.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,919 shares of company stock worth $942,733 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings raised Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Piper Sandler boosted their price target on shares of Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the company a “neutral” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Seacoast Banking Corporation of Florida has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Seacoast Banking Corporation of Florida Company 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.