AlphaQuest LLC Grows Stock Holdings in Seacoast Banking Corporation of Florida $SBCF

AlphaQuest LLC grew its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCFFree Report) by 213.5% in the third quarter, Holdings Channel.com reports. The firm owned 44,789 shares of the financial services provider’s stock after acquiring an additional 30,502 shares during the quarter. AlphaQuest LLC’s holdings in Seacoast Banking Corporation of Florida were worth $1,363,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SBCF. Caldwell Trust Co purchased a new stake in Seacoast Banking Corporation of Florida in the 2nd quarter valued at $51,000. Assetmark Inc. grew its holdings in shares of Seacoast Banking Corporation of Florida by 24.0% in the second quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 375 shares during the period. GAMMA Investing LLC increased its position in Seacoast Banking Corporation of Florida by 21.9% during the second quarter. GAMMA Investing LLC now owns 2,036 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 366 shares during the last quarter. First Horizon Advisors Inc. increased its position in Seacoast Banking Corporation of Florida by 28.1% during the second quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 452 shares during the last quarter. Finally, Summer Road LLC acquired a new position in Seacoast Banking Corporation of Florida in the 2nd quarter valued at about $84,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Trending Headlines about Seacoast Banking Corporation of Florida

Here are the key news stories impacting Seacoast Banking Corporation of Florida this week:

Seacoast Banking Corporation of Florida Stock Down 2.0%

Shares of NASDAQ:SBCF opened at $33.44 on Friday. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $35.46. The firm’s 50 day moving average price is $32.56 and its 200 day moving average price is $30.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 20.90 and a beta of 0.92.

Seacoast Banking Corporation of Florida (NASDAQ:SBCFGet Free Report) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). Seacoast Banking Corporation of Florida had a net margin of 15.47% and a return on equity of 7.39%. The firm had revenue of $204.79 million during the quarter, compared to analysts’ expectations of $201.25 million. During the same period in the prior year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, equities research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.19 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 44.97%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods lifted their target price on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Raymond James Financial set a $33.00 target price on shares of Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Zacks Research lowered shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Piper Sandler reissued a “neutral” rating and issued a $33.50 price target on shares of Seacoast Banking Corporation of Florida in a research note on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.50.

Read Our Latest Stock Analysis on Seacoast Banking Corporation of Florida

Insider Transactions at Seacoast Banking Corporation of Florida

In other news, Director Dennis S. Hudson III sold 8,000 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $31.13, for a total transaction of $249,040.00. Following the completion of the transaction, the director directly owned 251,275 shares of the company’s stock, valued at approximately $7,822,190.75. This represents a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by company insiders.

Seacoast Banking Corporation of Florida Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SBCF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seacoast Banking Corporation of Florida (NASDAQ:SBCFFree Report).

Institutional Ownership by Quarter for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Receive News & Ratings for Seacoast Banking Corporation of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Corporation of Florida and related companies with MarketBeat.com's FREE daily email newsletter.