Aptus Capital Advisors LLC Buys 57,879 Shares of Seacoast Banking Corporation of Florida $SBCF

Aptus Capital Advisors LLC grew its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 15.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 438,416 shares of the financial services provider’s stock after buying an additional 57,879 shares during the period. Aptus Capital Advisors LLC owned 0.45% of Seacoast Banking Corporation of Florida worth $13,341,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. AlphaQuest LLC raised its position in shares of Seacoast Banking Corporation of Florida by 213.5% in the 3rd quarter. AlphaQuest LLC now owns 44,789 shares of the financial services provider’s stock valued at $1,363,000 after purchasing an additional 30,502 shares during the last quarter. Global Trust Asset Management LLC increased its position in shares of Seacoast Banking Corporation of Florida by 22,887.6% in the 3rd quarter. Global Trust Asset Management LLC now owns 83,445 shares of the financial services provider’s stock valued at $2,539,000 after acquiring an additional 83,082 shares during the period. Elizabeth Park Capital Advisors Ltd. purchased a new position in Seacoast Banking Corporation of Florida in the 2nd quarter worth $1,684,000. Deprince Race & Zollo Inc. grew its stake in Seacoast Banking Corporation of Florida by 7.2% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 2,148,243 shares of the financial services provider’s stock valued at $65,371,000 after purchasing an additional 143,871 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Seacoast Banking Corporation of Florida by 33.0% in the second quarter. JPMorgan Chase & Co. now owns 534,877 shares of the financial services provider’s stock valued at $14,773,000 after purchasing an additional 132,796 shares during the period. Institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF stock opened at $30.29 on Friday. The firm has a 50 day moving average of $33.02 and a two-hundred day moving average of $31.71. The stock has a market capitalization of $2.97 billion, a PE ratio of 18.93 and a beta of 0.92. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $35.55.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). The firm had revenue of $204.80 million for the quarter, compared to analysts’ expectations of $201.25 million. Seacoast Banking Corporation of Florida had a return on equity of 7.07% and a net margin of 15.47%.The company’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.48 EPS. On average, research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio is currently 47.50%.

Insider Activity

In other Seacoast Banking Corporation of Florida news, Director Dennis J. Arczynski sold 3,419 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $34.21, for a total transaction of $116,963.99. Following the transaction, the director owned 1,000 shares of the company’s stock, valued at $34,210. This represents a 77.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph B. Shearouse III purchased 4,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Thursday, February 12th. The shares were acquired at an average cost of $33.19 per share, for a total transaction of $132,760.00. Following the completion of the transaction, the director owned 35,500 shares of the company’s stock, valued at $1,178,245. This represents a 12.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 29,752 shares of company stock worth $976,846 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Zacks Research downgraded shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.90.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.