Seacoast Banking Corporation of Florida $SBCF Holdings Boosted by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC increased its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 15.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 438,416 shares of the financial services provider’s stock after buying an additional 57,879 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Seacoast Banking Corporation of Florida were worth $13,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SBCF. Jones Financial Companies Lllp increased its position in Seacoast Banking Corporation of Florida by 69.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 857 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 352 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Seacoast Banking Corporation of Florida by 41.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,642 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 478 shares during the period. Caldwell Trust Co acquired a new stake in Seacoast Banking Corporation of Florida in the second quarter worth about $51,000. Assetmark Inc. grew its position in Seacoast Banking Corporation of Florida by 24.0% in the 2nd quarter. Assetmark Inc. now owns 1,940 shares of the financial services provider’s stock valued at $54,000 after buying an additional 375 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Seacoast Banking Corporation of Florida by 28.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,059 shares of the financial services provider’s stock valued at $57,000 after buying an additional 452 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

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 value of $116,963.99. Following the transaction, the director directly owned 1,000 shares in the company, valued at approximately $34,210. This trade represents a 77.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph M. Forlenza sold 12,635 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $32.90, for a total transaction of $415,691.50. Following the completion of the transaction, the executive vice president directly owned 42,392 shares in the company, valued at $1,394,696.80. This trade represents a 22.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 29,752 shares of company stock valued at $976,846. Corporate insiders own 1.60% of the company’s stock.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF opened at $30.29 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.77 and a quick ratio of 0.77. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $35.55. The company’s fifty day moving average price is $33.02 and its 200 day moving average price is $31.71. The company has a market capitalization of $2.97 billion, a PE ratio of 18.93 and a beta of 0.92.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.44 earnings per share (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 company had revenue of $204.80 million during the quarter, compared to analyst estimates of $201.25 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, analysts expect that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given 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 2.5%. Seacoast Banking Corporation of Florida’s payout ratio is 47.50%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on Seacoast Banking Corporation of Florida from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Zacks Research cut shares of 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 report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of “Hold” and a consensus target price of $31.90.

Seacoast Banking Corporation of Florida 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.