Emerald Mutual Fund Advisers Trust Increases Stock Holdings in Seacoast Banking Corporation of Florida $SBCF

Emerald Mutual Fund Advisers Trust boosted its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 138.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 326,516 shares of the financial services provider’s stock after purchasing an additional 189,714 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.33% of Seacoast Banking Corporation of Florida worth $9,890,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. World Investment Advisors raised its holdings in Seacoast Banking Corporation of Florida by 3.6% in the 4th quarter. World Investment Advisors now owns 9,036 shares of the financial services provider’s stock valued at $274,000 after buying an additional 316 shares during the period. CWM LLC boosted its stake in Seacoast Banking Corporation of Florida by 3.0% during the fourth quarter. CWM LLC now owns 11,083 shares of the financial services provider’s stock worth $348,000 after buying an additional 320 shares during the period. Salomon & Ludwin LLC boosted its stake in Seacoast Banking Corporation of Florida by 59.3% during the fourth quarter. Salomon & Ludwin LLC now owns 956 shares of the financial services provider’s stock worth $31,000 after buying an additional 356 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Seacoast Banking Corporation of Florida by 1.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 45,543 shares of the financial services provider’s stock valued at $1,431,000 after acquiring an additional 471 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Seacoast Banking Corporation of Florida by 4.2% during the second quarter. Cetera Investment Advisers now owns 12,724 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 513 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on SBCF shares. Weiss Ratings upgraded Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, June 30th. Wall Street Zen raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Piper Sandler boosted their price objective on Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the company a “neutral” rating in a report on Monday, June 22nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Seacoast Banking Corporation of Florida currently has an average rating of “Moderate Buy” and an average price target of $35.00.

Insider Transactions at Seacoast Banking Corporation of Florida

In related news, CEO Charles M. Shaffer sold 10,367 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $30.88, for a total transaction of $320,132.96. Following the transaction, the chief executive officer owned 174,113 shares of the company’s stock, valued at approximately $5,376,609.44. This represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dennis S. Hudson III sold 8,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $31.41, for a total value of $251,280.00. Following the transaction, the director directly owned 220,854 shares in the company, valued at approximately $6,937,024.14. This represents a 3.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,919 shares of company stock valued at $942,733 in the last 90 days. 1.50% of the stock is currently owned by insiders.

Seacoast Banking Corporation of Florida Price Performance

SBCF stock opened at $32.97 on Tuesday. The company has a market capitalization of $3.21 billion, a P/E ratio of 21.69 and a beta of 0.85. Seacoast Banking Corporation of Florida has a twelve month low of $27.22 and a twelve month high of $35.55. The business has a 50 day simple moving average of $31.25 and a 200-day simple moving average of $31.82. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $205.10 million for the quarter, compared to analyst estimates of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. Seacoast Banking Corporation of Florida’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS. As a group, equities analysts anticipate that Seacoast Banking Corporation of Florida will post 2.51 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.19 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio (DPR) is currently 50.00%.

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.