Tributary Capital Management LLC Boosts Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Tributary Capital Management LLC raised its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 520,186 shares of the financial services provider’s stock after buying an additional 455 shares during the period. Tributary Capital Management LLC owned 0.61% of Seacoast Banking Co. of Florida worth $13,208,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 1492 Capital Management LLC increased its stake in shares of Seacoast Banking Co. of Florida by 0.9% during the 4th quarter. 1492 Capital Management LLC now owns 60,715 shares of the financial services provider’s stock worth $1,728,000 after purchasing an additional 566 shares during the last quarter. Diversified Trust Co increased its stake in shares of Seacoast Banking Co. of Florida by 5.8% during the 4th quarter. Diversified Trust Co now owns 13,154 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 718 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Seacoast Banking Co. of Florida by 1.0% during the 3rd quarter. Federated Hermes Inc. now owns 81,672 shares of the financial services provider’s stock worth $1,794,000 after purchasing an additional 820 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Seacoast Banking Co. of Florida during the 4th quarter worth approximately $25,000. Finally, Comerica Bank grew its stake in Seacoast Banking Co. of Florida by 1.7% in the 4th quarter. Comerica Bank now owns 54,192 shares of the financial services provider’s stock valued at $1,542,000 after buying an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SBCF shares. Keefe, Bruyette & Woods upgraded shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $26.00 to $27.00 in a research note on Friday, May 31st. Truist Financial reduced their price objective on shares of Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Finally, Hovde Group reduced their price objective on shares of Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and an average target price of $26.30.

Insider Buying and Selling

In other news, EVP James C. Stallings III sold 3,855 shares of Seacoast Banking Co. of Florida stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $24.44, for a total value of $94,216.20. Following the sale, the executive vice president now directly owns 3,961 shares of the company’s stock, valued at $96,806.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by insiders.

Seacoast Banking Co. of Florida Stock Up 0.3 %

Shares of NASDAQ:SBCF opened at $23.48 on Tuesday. The stock has a 50 day moving average price of $23.36 and a 200-day moving average price of $24.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Co. of Florida has a 52-week low of $19.04 and a 52-week high of $29.98. The firm has a market capitalization of $1.99 billion, a P/E ratio of 16.71 and a beta of 1.10.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.03). The firm had revenue of $125.58 million during the quarter, compared to analysts’ expectations of $127.95 million. Seacoast Banking Co. of Florida had a return on equity of 5.68% and a net margin of 15.08%. As a group, equities research analysts anticipate that Seacoast Banking Co. of Florida will post 1.42 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.18 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.72 dividend on an annualized basis and a yield of 3.07%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 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.