Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC decreased its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 12.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 453,360 shares of the financial services provider’s stock after selling 67,395 shares during the quarter. Tributary Capital Management LLC’s holdings in Seacoast Banking Co. of Florida were worth $12,082,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Seacoast Banking Co. of Florida by 4.2% in the first quarter. Vanguard Group Inc. now owns 6,285,087 shares of the financial services provider’s stock valued at $159,578,000 after buying an additional 254,887 shares during the period. Westwood Holdings Group Inc. raised its holdings in Seacoast Banking Co. of Florida by 2.8% in the second quarter. Westwood Holdings Group Inc. now owns 3,210,657 shares of the financial services provider’s stock valued at $75,900,000 after buying an additional 88,757 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Seacoast Banking Co. of Florida by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,001,292 shares of the financial services provider’s stock valued at $70,949,000 after purchasing an additional 27,287 shares during the period. Deprince Race & Zollo Inc. raised its stake in shares of Seacoast Banking Co. of Florida by 4.7% during the second quarter. Deprince Race & Zollo Inc. now owns 1,689,888 shares of the financial services provider’s stock valued at $39,949,000 after purchasing an additional 76,001 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Seacoast Banking Co. of Florida by 24.0% during the first quarter. William Blair Investment Management LLC now owns 1,170,146 shares of the financial services provider’s stock valued at $29,710,000 after purchasing an additional 226,132 shares during the period. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SBCF. Truist Financial lifted their price objective on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Hovde Group lowered shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $29.00 to $31.00 in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.88.

Seacoast Banking Co. of Florida Stock Performance

Seacoast Banking Co. of Florida stock opened at $26.33 on Monday. The company has a market cap of $2.24 billion, a PE ratio of 18.81 and a beta of 1.07. The company has a fifty day moving average price of $26.75 and a two-hundred day moving average price of $25.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. Seacoast Banking Co. of Florida has a 12 month low of $19.67 and a 12 month high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. The company had revenue of $130.30 million during the quarter, compared to the consensus estimate of $129.20 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts expect that Seacoast Banking Co. of Florida will post 1.43 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio (DPR) is 51.43%.

About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.