HighTower Advisors LLC Buys 663 Shares of Seacoast Banking Corporation of Florida $SBCF

HighTower Advisors LLC grew its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 7.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,149 shares of the financial services provider’s stock after purchasing an additional 663 shares during the quarter. HighTower Advisors LLC’s holdings in Seacoast Banking Corporation of Florida were worth $261,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Seacoast Banking Corporation of Florida during the first quarter worth $27,000. IFP Advisors Inc grew its position in Seacoast Banking Corporation of Florida by 343.9% during the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock worth $33,000 after buying an additional 994 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 460 shares in the last quarter. CWM LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 61.6% in the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,004 shares in the last quarter. Finally, Algert Global LLC purchased a new position in shares of Seacoast Banking Corporation of Florida in the 4th quarter worth about $212,000. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Corporation of Florida Price Performance

NASDAQ:SBCF opened at $30.93 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36. The business’s 50-day simple moving average is $29.10 and its two-hundred day simple moving average is $26.61. The stock has a market cap of $2.72 billion, a PE ratio of 18.98 and a beta of 0.98. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $31.68.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The business had revenue of $151.40 million for the quarter, compared to analysts’ expectations of $146.08 million. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%.During the same period last year, the firm earned $0.36 earnings per share. As a group, analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida’s payout ratio is 44.17%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SBCF shares. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Keefe, Bruyette & Woods upped their price target on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Finally, Hovde Group increased their target price on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.40.

About Seacoast Banking Corporation 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.