Elizabeth Park Capital Advisors Ltd. Buys New Shares in Seacoast Banking Corporation of Florida $SBCF

Elizabeth Park Capital Advisors Ltd. purchased a new position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) during the 2nd quarter, Holdings Channel reports. The fund purchased 60,977 shares of the financial services provider’s stock, valued at approximately $1,684,000.

A number of other large investors also recently modified their holdings of SBCF. Public Employees Retirement System of Ohio increased its position in shares of Seacoast Banking Corporation of Florida by 1.1% in the second quarter. Public Employees Retirement System of Ohio now owns 93,818 shares of the financial services provider’s stock valued at $2,591,000 after acquiring an additional 998 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new position in Seacoast Banking Corporation of Florida in the second quarter valued at approximately $242,000. Intech Investment Management LLC increased its position in shares of Seacoast Banking Corporation of Florida by 36.5% during the 1st quarter. Intech Investment Management LLC now owns 91,340 shares of the financial services provider’s stock worth $2,350,000 after purchasing an additional 24,408 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Seacoast Banking Corporation of Florida by 12.8% during the 1st quarter. Russell Investments Group Ltd. now owns 569,866 shares of the financial services provider’s stock worth $14,663,000 after purchasing an additional 64,854 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Seacoast Banking Corporation of Florida by 54.7% during the 1st quarter. Deutsche Bank AG now owns 114,082 shares of the financial services provider’s stock worth $2,935,000 after purchasing an additional 40,330 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Price Performance

NASDAQ:SBCF opened at $32.33 on Friday. The company has a market cap of $3.16 billion, a P/E ratio of 19.13 and a beta of 0.95. The firm’s fifty day moving average price is $30.78 and its two-hundred day moving average price is $29.21. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $32.75. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.84 and a quick ratio of 0.84.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its 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 net margin of 16.93% and a return on equity of 7.16%. The company had revenue of $83.85 million during the quarter. Equities analysts expect that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.19 per share. This is a boost from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, December 15th. Seacoast Banking Corporation of Florida’s dividend payout ratio is presently 42.60%.

Insider Activity at Seacoast Banking Corporation of Florida

In other news, Director Dennis S. Hudson III sold 8,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $31.13, for a total transaction of $249,040.00. Following the transaction, the director owned 251,275 shares in the company, valued at approximately $7,822,190.75. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBCF. Zacks Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Piper Sandler reissued a “neutral” rating and issued a $33.50 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Monday, November 3rd. Raymond James Financial set a $33.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods raised their target price on shares of Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

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.