Advantage Alpha Capital Partners LP Lowers Stake in Seacoast Banking Corporation of Florida $SBCF

Key Points

• Advantage Alpha Capital Partners LP reduced its position in Seacoast Banking Corporation of Florida by 60.8%, holding 8,112 shares worth $209,000 as of its latest SEC filing.
• Seacoast Banking Corporation's stock had a 6.2% increase and currently trades around $30.97, with a market capitalization of $2.72 billion.
• The company announced a quarterly dividend of $0.18, representing a 2.3% yield, payable on September 30th to investors of record by September 15th.

Advantage Alpha Capital Partners LP reduced its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 60.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,112 shares of the financial services provider's stock after selling 12,584 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in Seacoast Banking Corporation of Florida were worth $209,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the 1st quarter valued at approximately $27,000. IFP Advisors Inc raised its holdings in Seacoast Banking Corporation of Florida by 343.9% during the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider's stock worth $33,000 after purchasing an additional 994 shares during the last quarter. GAMMA Investing LLC raised its holdings in Seacoast Banking Corporation of Florida by 38.0% during the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $43,000 after purchasing an additional 460 shares during the last quarter. CWM LLC raised its holdings in Seacoast Banking Corporation of Florida by 61.6% during the first quarter. CWM LLC now owns 2,635 shares of the financial services provider's stock worth $68,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Seacoast Banking Corporation of Florida during the fourth quarter worth $212,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on SBCF. Hovde Group lifted their price objective on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a report on Wednesday, June 4th. Wall Street Zen raised Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods lifted their price objective on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Finally, Zacks Research raised Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Seacoast Banking Corporation of Florida Trading Down 0.4%

Shares of NASDAQ:SBCF traded down $0.14 during midday trading on Thursday, reaching $31.05. The company's stock had a trading volume of 111,831 shares, compared to its average volume of 519,591. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 19.06 and a beta of 0.98. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $31.68. The business has a 50 day moving average price of $28.55 and a 200 day moving average price of $26.56.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. The business had revenue of $151.40 million during the quarter, compared to the consensus estimate of $146.08 million. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%.During the same quarter in the previous year, the business earned $0.36 earnings per share. Research analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida's payout ratio is currently 44.17%.

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.