Toth Financial Advisory Corp Buys 21,250 Shares of Seacoast Banking Corporation of Florida $SBCF

Toth Financial Advisory Corp boosted its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 326.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,750 shares of the financial services provider’s stock after buying an additional 21,250 shares during the quarter. Toth Financial Advisory Corp’s holdings in Seacoast Banking Corporation of Florida were worth $872,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Seacoast Banking Corporation of Florida by 58.6% during the third quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock worth $166,825,000 after acquiring an additional 2,025,988 shares during the last quarter. FJ Capital Management LLC increased its position in Seacoast Banking Corporation of Florida by 194.6% during the 2nd quarter. FJ Capital Management LLC now owns 1,154,434 shares of the financial services provider’s stock valued at $31,885,000 after purchasing an additional 762,505 shares during the period. Tributary Capital Management LLC raised its holdings in Seacoast Banking Corporation of Florida by 99.4% during the 3rd quarter. Tributary Capital Management LLC now owns 1,459,462 shares of the financial services provider’s stock worth $44,411,000 after purchasing an additional 727,428 shares during the last quarter. Verition Fund Management LLC bought a new position in Seacoast Banking Corporation of Florida during the 3rd quarter worth approximately $14,865,000. Finally, Brown Advisory Inc. lifted its position in shares of Seacoast Banking Corporation of Florida by 37.3% in the 2nd quarter. Brown Advisory Inc. now owns 1,255,807 shares of the financial services provider’s stock worth $34,685,000 after purchasing an additional 341,241 shares during the period. Institutional investors own 81.77% of the company’s stock.

Wall Street Analyst Weigh In

SBCF has been the subject of several recent analyst reports. Zacks Research cut shares of Seacoast Banking Corporation of Florida from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Keefe, Bruyette & Woods boosted their target price on shares of 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. Finally, Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Seacoast Banking Corporation of Florida presently has a consensus rating of “Hold” and a consensus price target of $31.90.

Insiders Place Their Bets

In other Seacoast Banking Corporation of Florida news, EVP Joseph M. Forlenza sold 12,635 shares of the 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 owned 42,392 shares in the company, valued at $1,394,696.80. This trade represents a 22.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maryann Goebel sold 3,419 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $34.23, for a total value of $117,032.37. Following the transaction, the director directly owned 6,000 shares of the company’s stock, valued at $205,380. The trade was a 36.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 29,752 shares of company stock valued at $976,846. Company insiders own 1.60% of the company’s stock.

Seacoast Banking Corporation of Florida Price Performance

SBCF stock opened at $30.47 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. The company’s 50-day moving average is $31.91 and its 200-day moving average is $31.62. The stock has a market capitalization of $2.98 billion, a PE ratio of 19.04 and a beta of 0.91. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $35.55.

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 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 analyst estimates 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 firm’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. Equities research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

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

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.