GAMMA Investing LLC Buys 366 Shares of Seacoast Banking Corporation of Florida $SBCF

GAMMA Investing LLC raised its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 21.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,036 shares of the financial services provider’s stock after purchasing an additional 366 shares during the quarter. GAMMA Investing LLC’s holdings in Seacoast Banking Corporation of Florida were worth $56,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Seacoast Banking Corporation of Florida during the first quarter valued at about $27,000. IFP Advisors Inc lifted its holdings 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 valued at $33,000 after purchasing an additional 994 shares during the last quarter. CWM LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 61.6% in the first quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after buying an additional 1,004 shares in the last quarter. MQS Management LLC bought a new position in shares of Seacoast Banking Corporation of Florida in the first quarter valued at approximately $244,000. Finally, HighTower Advisors LLC boosted its position in shares of Seacoast Banking Corporation of Florida by 7.0% in the first quarter. HighTower Advisors LLC now owns 10,149 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 663 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida Stock Up 1.6%

Shares of NASDAQ SBCF opened at $30.92 on Friday. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $32.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $29.94 and its two-hundred day simple moving average is $27.14. The stock has a market capitalization of $2.72 billion, a P/E ratio of 18.97 and a beta of 0.94.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. The firm had revenue of $151.40 million for the quarter, compared to analysts’ expectations of $146.08 million. During the same quarter last year, the business earned $0.36 earnings per share. As a group, analysts expect 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 was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a $0.18 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.72 annualized dividend and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 44.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Saturday, September 27th. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of 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. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.40.

Seacoast Banking Corporation of Florida Profile

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.