Cwm LLC Grows Position in Seacoast Banking Corporation of Florida $SBCF

Cwm LLC grew its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 170.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,121 shares of the financial services provider’s stock after buying an additional 4,486 shares during the period. Cwm LLC’s holdings in Seacoast Banking Corporation of Florida were worth $197,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc increased 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 increased its position in Seacoast Banking Corporation of Florida by 38.0% during the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock worth $43,000 after buying an additional 460 shares in the last quarter. ZWJ Investment Counsel Inc. acquired a new stake in shares of Seacoast Banking Corporation of Florida during the second quarter worth $242,000. MQS Management LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter worth $244,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida by 7.0% during the first quarter. HighTower Advisors LLC now owns 10,149 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 663 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

SBCF stock opened at $31.07 on Wednesday. The stock has a 50-day moving average price of $30.72 and a two-hundred day moving average price of $27.89. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $32.33. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.73 billion, a PE ratio of 18.38 and a beta of 0.94.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Monday, February 14th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.28% and a net margin of 16.93%.The firm had revenue of $83.85 million during the quarter. As a group, research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. The ex-dividend date is Monday, December 15th. Seacoast Banking Corporation of Florida’s payout ratio is 44.17%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SBCF. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Raymond James Financial set a $33.00 price objective on Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Finally, Zacks Research upgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.25.

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.