Boothbay Fund Management LLC Boosts Stake in Seacoast Banking Corporation of Florida $SBCF

Boothbay Fund Management LLC boosted its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 48.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,879 shares of the financial services provider’s stock after acquiring an additional 61,119 shares during the period. Boothbay Fund Management LLC owned 0.19% of Seacoast Banking Corporation of Florida worth $5,717,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its holdings in shares of Seacoast Banking Corporation of Florida by 78.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 679,218 shares of the financial services provider’s stock worth $20,669,000 after acquiring an additional 297,892 shares during the period. Creative Planning raised its stake in Seacoast Banking Corporation of Florida by 789.0% during the third quarter. Creative Planning now owns 79,447 shares of the financial services provider’s stock worth $2,418,000 after purchasing an additional 70,510 shares during the period. FJ Capital Management LLC raised its stake in Seacoast Banking Corporation of Florida by 4.8% during the third quarter. FJ Capital Management LLC now owns 1,209,996 shares of the financial services provider’s stock worth $36,820,000 after purchasing an additional 55,562 shares during the period. Zacks Investment Management purchased a new stake in shares of Seacoast Banking Corporation of Florida in the 3rd quarter valued at approximately $1,118,000. Finally, Amundi increased its holdings in shares of Seacoast Banking Corporation of Florida by 8.1% during the 3rd quarter. Amundi now owns 15,158 shares of the financial services provider’s stock worth $477,000 after buying an additional 1,134 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Down 1.2%

Shares of NASDAQ SBCF opened at $29.81 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $32.91 and its two-hundred day moving average is $31.74. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $35.55. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 18.63 and a beta of 0.92.

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

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, March 13th. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is 47.50%.

Insider Buying and Selling

In other Seacoast Banking Corporation of Florida news, Director Dennis J. Arczynski sold 3,419 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $34.21, for a total transaction of $116,963.99. Following the sale, the director directly owned 1,000 shares in the company, valued at $34,210. This represents a 77.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis S. Hudson III sold 8,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $31.34, for a total transaction of $250,720.00. Following the sale, the director directly owned 236,854 shares in the company, valued at $7,423,004.36. This represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,752 shares of company stock worth $976,846 over the last 90 days. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

SBCF has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Zacks Research cut Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.90.

Seacoast Banking Corporation of Florida Company Profile

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.